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Senator Bob Corker Disappointed In The 'Filing Errors' That Resulted In Him Failing To Mention Millions In Income

You're bad, Filing Errors, you're very bad!
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Look what you made Uncle Bobby do, Filing Errors. Luckily Uncle B has a higher standard of ethics than you, and immediately sought to fix what you'd done right after being backed into a corner and essentially forced to do so. Now go and spend some time thinking about what you've done. forms show that Mr. Corker had failed to properly disclose at least $2 million in income from investments in three small hedge funds based in his home state. He also didn’t properly report millions of dollars in income from commercial real-estate investments due to an accounting error. And he didn’t disclose millions of dollars in other assets and income from other financial transactions. A letter sent to the secretary of the Senate along with the new financial reports acknowledged that the senator’s previous reports didn’t comply with Senate rules. “I am extremely disappointed in the filing errors that were made in earlier financial disclosure reports,” Mr. Corker said in a statement to the Journal. After the Journal raised questions about the prior reports, Mr. Corker hired an accounting firm to review all of his transactions. “After completing a full, third-party review, we have corrected this oversight,” Mr. Corker said in his statement.

Sen. Bob Corker Failed to Properly Disclose Millions of Dollars in Income [WSJ]


Matt Taibbi Is Disappointed In Wall Street

The next hedge fund manager to invest in Apple gets a horse semen pie to the face. ...all those super-rich people who turned to hedge funds with their millions in the hopes that bunches of Whiz-Kids from Wharton and Harvard and Yale would find unseen and wildly creative investment ideas to fatten their fortunes – all those rich clients are actually finding out now that those same Whiz Kids are buying Apple just like the rest of us [...] Jesus. After all that craziness in the last decade or so, after MF and the London Whale and all that nuttiness, this is what it comes down to? These guys are buying Apple? Couldn't we have just started off doing that and saved ourselves all that trouble? [...] Someday we'll get back to the time when the really smart guys from the best schools went to work for companies that built actual products, engineered more efficient cars, cured diseases, etc. Because it seems like our best minds kind of suck at investing. More Evidence That Wall Street Is Overpaid [TAIBBLOG]

National Futures Association Politely Requests That Jon Corzine Apply For Membership So That It Can Ban Him For Life

Earlier this week, the NFA met to discuss the possibility of a lifetime ban of Jon Corzine from the futures industry. Two directors in particular-- John Roe and James Koutoulas-- wanted him out and wanted him out bad. Guy thought he could take down a once proud brokerage firm for yuks and then get off scot free? He had another thing coming, Roe and Koutoulas probably said to each other while putting the finishing touches on a press release they planned to send out announcing the news, in addition to skywriting plane they put a deposit on to spell out "Hit the bricks, pal," over Corzine's house. Unfortunately, the duo will most likely lose their $150 and most definitely have to save the party hats they sent others to pick up for another time. It seems in their excitement to tell JSC that he was "finished here," Roe and Koutalas failed to make sure he was actually a member of their organization.