Corzine bankrupt firm tied to Soros

Now this is a surprise now isn’t it? More stories that the MSM cannot seem to get their arms around. They would be rather muckraking, which is managing to dissolve into a nightmare not worthy of attention. Whether we can ever untangle this web that is setting about to destroy us, is questionable. But here is the story: 

A major figure in liberal Democrat Jon Corzine’s bankrupt firm, MF Global, used to work for hedge fund operator and Democratic Party financial patron George Soros. MF Global Holdings Ltd., now under FBI investigation, had hired Munir Javeri as Global Head of Trading.

The bankruptcy of MF Global is being described as the eighth-largest corporate bankruptcy in U.S. history. Steve Schaefer of Forbes says it is “the largest bankruptcy (by assets) of a public company this year, and by a huge margin.”

To make matters worse, MF Global had close financial ties to the Federal Reserve. The firm was designated a primary dealer by the Federal Reserve Bank of New York, which means that it participated directly in Treasury auctions and provided analysis and market intelligence to trading desks at the New York Federal Reserve.

Meantime, Corzine, MF Global chairman and CEO, has been aggressively raising funds for Obama’s 2012 re-election campaign. “Obama has had a lot to say about Occupy Wall Street but probably won’t say anything about Jon Corzine,” the Republican National Committee said in a statement.

At the time of Javeri’s hiring by MF Global, news organizations trumpeted the development with such headlines as, “Jon Corzine Has Hired An Ex-Soros Trader To Make MF Global Surge.” The media coverage reflected the media awe for Soros and his hedge fund managers.

“In this newly created role,” MF Global said in a press release about the hiring of the former Soros money man, “Mr. Javeri will work with the firm’s various product lines to manage and enhance the firm’s trading capabilities across asset classes and geographic regions. Additionally, he will oversee the firm’s Principal Strategies Group, a newly initiated proprietary trading operation. The group engages in opportunistic trading across a variety of asset classes. Mr. Javeri has extensive trading and asset management experience. Most recently, he was a partner and portfolio manager at Gandhara Advisors, a multi-billion dollar equity hedge fund. Prior to that, he was a global macro investor at Soros Fund Management.” Full story here at  Trevor Loudon

UNESCO pleads for U.S. to reinstate funding -UPDATE

Every now and then, a story comes along that gets little attention, but bugs the hell out of the writer of a blog. Here is one. Thankfully, legislation passed years ago required that we de-fund any agency  “which accords the Palestine Liberation Organization the same standing as member states.”. So here is the drill. We do this for any and all aid to anyone. You want our stash? Well get on board with the U.S. program. No more biting the hand that feeds you.

But wait: UPDATE, I knew it was too good to be true. Our Dictator announces he will find a way around… of course:

“President Obama has made strong multilateral engagement across the UN system – including at UNESCO – a top priority and a core aspect of U.S. foreign policy,” he told the General Conference shortly after it had voted by a large margin to admit “Palestine” as a full member.

“The United States remains deeply committed to UNESCO and its noble mission to build peace in the minds of men and women,” Killion added. “Despite the challenges ahead, we pledge to continue our efforts to find ways to support and strengthen the important work of this vital organization.” CNS News: Obama remains deeply committed to UNESCO despite vote to admit Palestine

PARIS – The head of UNESCO is pleading with the U.S. to reinstate funding cut off after the agency granted membership to Palestine.

 Director-General Irina Bokova warned in a statement Wednesday that the move jeopardizes programs “in America’s core interests,” such as those fostering a free media in nascent Mideast democracies. Right, bringing in Sharia law and the Muslim folks that would just as soon do us in as look at us.

 U.S. cuts UNESCO funding after Palestinian vote

 She said that without U.S. support, “it will be impossible for us to maintain our current level of activity.”

 On Monday, the members of the U.N. Educational, Scientific and Cultural Organization voted to welcome Palestine. CBS News

From: U.N. grants full membership to Palestine

“Palestinian membership as a state in UNESCO triggers longstanding legislative restrictions, which will compel the United States to refrain from making contributions to UNESCO,” U.S. State Department spokeswoman Victoria Nuland said within hours of the vote.

The United States’ annual contribution of some $70 million accounts for nearly one-fourth of UNESCO’s total budget.

The funding cut is mandated by legislation from the 1990s that denies U.S. funding to any U.N. agency “which accords the Palestine Liberation Organization the same standing as member states.”

The size of the vote in favor provides a good indication of the reception the Palestinian Authority (P.A.) application can expect at other agencies.

In the UNESCO vote, the measure needed a two-thirds majority to pass. With 173 members of the total 194 voting on the day, the required threshold was 81 votes. The bid received 107, with only 14 countries opposed, and another 52 abstaining. More at CNS News