(JonStewart) “Politician Jon Corzine saw Lehman Brothers as a cautionary tale; financial firm honcho Jon Corzine saw it as a dare.”

I don’t always agree with Jon Stewart, but he’s pretty much got it right on the money on this one…

(TheMarketTicker) “Let us remember that MF Global was just added to the primary dealer list in 2010! The bankruptcy does raise questions, however, about how the Fed picks the primary dealers — especially since MF Global was one of four firms added to the ranks after new, more stringent requirements were put in effect in 2010.”

Full Story: MF Global – Trillions in Bailouts, Loads of New Regulations, yet nothing has changed (vlogolution)

(PeterBrandt) “The media is missing the real story in the sad saga of MF Global. The story is not the big bet in Europe by MF Global that went south. The story is not the risk-taking ways of Jon Corzine.

The real story is the ineptness of federal regulators (so, what’s new). The real story is that speculators may end up holding an empty bag right under the noses of the U.S. government regulators responsible for their protection. The present administration appears unwilling to step up to the plate. The Obama administration bailed out AIG, Deutsche Bank, Fannie, Freddie and a whole bunch of other crooks along the way. But when it comes to protecting the integrity of futures markets, the powers that be (or should be) are MIA.

If segregated account holders of MF Global are stiffed it will be the end of market integrity as we know it. Free market lovers everywhere, do NOT under-emphasize the importance of this matter. The MF Global situation could be the leak in the dike that will flood the financial system as we know it. If segregated account holders in a federally regulated market are not protected, what is next?”

Full Story: Futures traders: Be concerned, be very concerned (PeterBrandt)

(PeterBrandt) “Futures markets and futures commission merchants (FCMs) are supposed to be highly regulated by the Commodity Futures Trading Commission (CFTC). If MF Global’s seg customers are not fully protected, it would be the equivalent of, let’s say, depositors of Chase bank or customers of Fidelity not being protected.

The failure of MF Global’s segregated account to be made whole would be the biggest financial disaster since 1929 and would spell the end of the futures industry as we know it. Folks in the financial industry should take this matter seriously — very seriously. Do not underestimate the importance of this matter.”

Full Story: MF Global — 2011′s version of 1929 (PeterBrandt)

This is just a quick shout out to The Daily Bail for including our AIG “Butterflies” commercial parody, “Hope to Still Be Here” in this article.   Thanks DailyBail.com!

What better way to introduce vlogolution’s new PassMeThePork channel than on TAX DAY!  It’s that fun-filled day of the year when Americans aren’t sure if they want to celebrate completing their 25 hour+ annual final exam-like tax forms, or cry and whine over how much of their hard-earned money was just raped from them.

To add insult to injury, isn’t it great to know you’ll be helping pay off just a bit of the huge PORK spending and bailouts of our friendly government and the royal fat-cat elite that control them?!  I guess paying taxes on earnings isn’t so bad if it’s all because of a taxpayer bailout anyway.  Oh wait, how many of these guys haven’t even bother to pay their full taxes anyway!  Eh hem, Mr. Geithner (Treasury Secretary and Head of the IRS).

So maybe by now you’re thinking… with so many crooks, so many schemes, so much sheistery, isn’t it time they Pass Me The Pork, #$%&$! With our brand new channel, along with a completely revamped website, we can now easily blog, create videos, and create a friendly community of Porkypines to “pop the pork”!  By following closely, we’ll find the pork, debunk the pork, slice the pork, and find astute tricks on how best to grab a piece of the pork for ourselves.  So PORK YOU, Hank Paulson, Vikram Pandit – Citigroup, Martin Sullivan – AIG, Franklin Raines – Fannie Mae, Rahm Emanuel – Freddie Mac, Bernie Madoff, Ben Bernanke, Alan Greenspan, oh how we could go on, …

We’re also in the midst of Tax Freedom Day, which is the number of days of the year that an average American works to pay off their “government obligations” as good little lemmings do.  For those in the higher tax brackets, would you believe they work well into June before making a few bucks for themselves?!  Maybe more Americans would wake up if they didn’t get paid at all until Tax Freedom Day.  Those living in Connecticut (120 days), New Jersey (119 days), New York (115 days), and California (110 days) will be proud to know that they are the TOP average tax payers out of all fifty states (congrats to Connecticut for being in first place as the most expensive of all – perhaps all those hedge fund salaries tipped the scale a bit).  On average, this year taxes will amount to 28.2% of our income, or 103 days of work per person.

If this upsets you enough to stretch out of your easy chair, you may want to participate in one of the many Tax Day Tea Parties occurring today.  In New York City, there will be one at City Hall from 7pm to 9pm.  These rallies have been organized in cities and towns across the nation, and it’s amazing how they’ve received almost no press coverage whatsoever!  Gives you a clue to who owns and controls the media…

So far the pundits have still been talking down the stock market.  This has helped many stocks do nothing but continue moving higher while the average investor is frozen like a deer in the headlights.  Just watch out when the pundits start talking again how stocks are the place to be.  Don’t think another test of the lows is out of the question…  Given the market’s current price action, it’s just very unlikely to happen for at least the next few months.  Banks still have yet to pony up true values on many of their holdings, and it’s still amazing how easily the media accepts “brighter outlooks” from the same people who were completely clueless, wrong, and/or outright lied throughout the entire meltdown.

On a final note, talk about how complacent we’ve all become, in 1773 the tea tax that was protested at the Boston Tea Party was approximately 3%.  Today, the average American pays as much as 70% of their total income in taxes (income, sales, gas, utility, etc)!  So, hmmm, beer and TV, or… take a stand…  Well, I dunno, I guess I’ll just have to think about it over a nice cold beer…

With the constant stream of unprecedented Federal bailouts of “AAA-rated” Wall Street companies, this parody of a recent AIG commercial featuring worry-free butterfly watching seems most fitting given the collapsing house-of-cards of one “rock-solid” institution after another… Watch at your own risk, or more prescient, risk your money in these institutional Behemoths at your own peril… When all’s said and done, who’ll be left to bail out the United States of America and its people? Who’s for REAL CHANGE?

Music: “Twinkle” by VannWestfold
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