As you may have heard, earlier today the Commodity Futures Trading Commission charged Jon Stevens Corzine for (allegedly!) misusing nearly $1 billion in customer funds at MF Global. According to the CFTC, this was able to happen in large part because JSC "did not enhance MF Global's deficient systems and controls sufficiently to ensure that the firm's increasing reliance on FCM cash did not result in unlawful uses of customer money." This pissed off Fox Business reporter Charlie Gasparino for two reasons, both of which he shared with CFTC Commissioner Bart Chilton this afternoon:
1. He wrote about MF Global's insufficient controls two years ago, ergo, the CFTC could've and should've brought the charges against Corzine way back then, instead of dragging its ass. In fact, Chaz says that on his watch, we would've seen action within one week's time.
2. No fraud charges? What's that about? Add it to the list of things CG would get done in his capacity as Senior Kicker of Ass and Taker Of Names.