MF Global Bonds Would Have Paid Higher Interest If Corzine Appointed To Government Post

From MSNBC's web site;

"...MF Global, surprised many Wall Street investors by issuing highly unusual securities notes that appeared to highlight Corzine’s close relationship with the White House: The notes suggested that the former New Jersey governor might be in line for a top administration post should the president get re-elected.

The notes promised to pay an extra 1% in interest rates in the event of “the departure of Mr. Corzine as our full time chief executive officer due to his appointment to a federal position by the President of the United States and his confirmation…by the United States Senate prior to July 1, 2013.”

Some veteran Wall Street analysts said they couldn’t recall ever seeing such a contingency written into securities notes. “It was bizarre,” said Christopher Whalen, a Wall Street analyst."

This is rich! A political figure trades on his known close ties to Obama to facilitate the unloading of $300 million worthless bonds while the SEC hides the risks from investors by hiding MF Global's Annual Audited Report as I reported here.