MF Global, one of the largest hedge funds in America, filed for bankruptcy protection this week, after making a 40-to-1 leveraged bet on European debt. Now the FBI and the SEC are launching investigations in the wake of reports of possible fraud and violation of securities laws.
This scandal is ready-made for the class warfare that the left and their media allies have been waging in recent months against conservatives, Wall Street and investors. As the story unfolds, one would think Occupy Wall Street would be on the march, but it isn't. Why hasn't Obama used this latest example of greed gone bad to launch another attack on the 1%? Where is the media frenzy?
Here's why the silence is deafening: the chairman of MF Global, Jon Corzine, is a partisan liberal Democrat. Most Americans don't know that because in story after story big media have failed to report his political loyalties.
Corzine previously worked for Goldman Sachs. Then he won a Senate seat in New Jersey by spending a record-breaking $60 million on his campaign. After one term he "bought" the governorship of the state, again breaking all records on spending. Throughout his career he has been a major contributor to the Democrat National Committee, the Clintons, Obama and various left-wing causes. Finally in 2010, Republican Chris Christie defeated Corzine, sending him back to Wall Street.
Can you imagine how this story would be reported if Corzine were a conservative Republican? But Corzine is not an exception. Many of the worst "players" in the Wall Street/banking meltdown were loyal partisan Democrats. Most of them donated to Obama's 2008 campaign.
Even today, as Obama and the Democrats rush to embrace the Occupy Wall Street movement, they continue to rake in most of Wall Street's political cash. Ponzi scheme operator Bernie Madoff was also a liberal Democrat, and a major contributor to the left-wing causes. And, of course, who can forget hedge-fund billionaire George Soros!
Gary Bauer
Campaign for Working Families
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