Jon Corzine, MF Global Holdings Ltd.’s former chief executive officer, was sued under U.S. racketeering law by commodity customers alleging he and other executives “unlawfully” took money from their accounts and failed to segregate their money as the law requires.
The suit alleges that hundreds of millions of dollars were transferred from customers’ accounts to other MF Global units, at a time when the company was short of cash and faced calls for collateral as its risky Eurobond and other investments fell in value.
This is the fallacy of our legal system. The government creates laws that are supposed to benefit victims, however, what they do is bring the law under the jurisdiction of the government rather than the individual who is injured.
The law creates parameters in which the party's operate, and in most cases the injured party receives no real remedy.
In this case it might be different, but once you the legal brotherhood working within the laws that they create, it is only the state or the attorney's that actually benefit.
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