Venture Socialism

 It looks like the amount of client money that Jon Corzine stole is double what was previously announced:

 "The amount of money "lost" was thought to be $600 million.
But the trustee for the now-bankrupt company says the actual figure might be $1.2 billion.

As you might be aware, the FBI is investigating the company, suspicious that Corzine used client money to cover his own/the firm's bets on European sovereign debt.

In other words -- if Corzine's bets had paid off, he would have pocked the profits, since he placed those bets on his own/his firm's account.

But, the suspicion is that he used client money for this purpose, "borrowing" client funds to place the bets.

Notice that, if this is the case, had Corzine won his bets, he pockets the money; but when he loses them, it's his clients -- who never authorized this gamble -- who actually wind up losing everything.

Venture socialism, in other words."