Below is the written testimony to Congress of Diane Genoa, Deputy General Counsel for JP Morgan as it relates to the MF Global investigation. I have no doubt that she was "deputized" such that JPM's actual General Counsel, Stephen Cutler, didn't have to speak. Unfortunately for the Bad Guys, Ms. Genoa's dance around the issues may have provided more information than they wanted to expose. Here's the statement...
Statement from JP Morgan re: MF Global Collapse
Clearly JP Morgan believes they did NOTHING wrong and were just an innocent bystander who was trying to "lend a hand" to one of their customers in a time of need....GIVE ME A BREAK!
Basically, Ms. Genoa knows exactly what they did illegally in this situation and is trying to dance around it. JP Morgan KNOWINGLY confiscated at least $200M of customer funds and then tried to cover their tracks by getting MF Global to sign a waiver three times that stated the funds were legitimate and not customer segregated funds. MF Global never signed the document but JP Morgan still hasn't given the money back.
Here's the telling statement on page 7...
"In retrospect, events appear to have overtaken MF Global during the weekend before it filed for bankruptcy, and, as a result, the letter was not signed. Nevertheless, our request did result in our receiving multiple clear oral assurances from senior MF Global officials that MF Global was in compliance with its obligations under the CFTC rules."
So who were these "senior MF Global officials" at MF Global?
"...we wound up speaking with Ms. Ferber's deputy general council, Dennis Klejna. We understood Mr. Klenja to be a former Head of the Enforcement Division of the CFTC..."!
Now wait a minute...why do I know that name? Oh yeah, DENNIS KLEJNA was also part of the Refco bankruptcy (that JP Morgan was deeply involved in) and actually had to pay up $1,250,000 to the victims but never had to admit any guilt...
OVER $135 MILLION IN ADDITIONAL REFCO FRAUD PROCEEDS
FORFEITED BY MANHATTAN U.S. ATTORNEY
DISTRIBUTED TO VICTIMS
Not only that but Dennis Klejna actually busted REFCO when he was at the CFTC in 1992 for violating the Position Limits Rule...
Fine Given in Refco Case
He was a "poster child" at the CFTC in the early 1990's but in 1995 he ran up against a force of evil rarely encountered my mortal man...HILLARY CLINTON!
THE WATCHDOG WHO BARKED AT HILLARY
Can it get more complicated? I guess Dennis figured - "If you can't beat em - join em!" and turned to the dark side.
Here's more background on this "Bad Guy"
DENNIS KLEJNA, SENIOR V.P. AND ASSISTANT GENERAL COUNSEL
In May 2007, Klejna joined from failed brokerage firm Refco, where he was executive vice president and general counsel. He was named senior vice president and chief compliance counsel of futures brokerage Man Financial -- which was renamed MF Global. From 1983 to 1995, Klejna had served as the Commodity Futures Trading Commission's director of enforcement, presiding over 145 CFTC enforcement cops nationwide.
Round and round it goes...
Klejna was the head of the enforcement division at the CFTC when Judge Bruce Levine was hired on to run cover for the manipulation of commodities as admitted in this letter from retiring CFTC Judge George Painter!
Judge George Painter's Admission of CFTC Corruption
The corruption runs deep within the Banking Cabal, the Government Oversight Organizations and the US Legal System.
The GOOD thing about all this is that the curtain is being pulled away and the Banksters can't survive in the light of day.
May the Road you choose be the Right Road.