Monday, December 5, 2011

HOT: MF Global Employee Links Clinton to the Bankrupt Firm

A former MF Global employee accused former president Bill Clinton of collecting $50,000 per month through his Teneo advisory firm in the months before the brokerage careened towards its Halloween filing for Chapter 11 bankruptcy, reports Human Events.

Teneo was hired by MF Global’s former CEO Jon S. Corzine to improve his image and to enhance his connections with Clinton’s political family, said the employee, who asked that his name be withheld because he feared retribution, according to HE.

The Teneo contract with MF Global lasted at least five months, the souce said. “The board cancelled it after Corzine resigned.”

The source, who is no longer associated with MF Global, said Teneo is a dual-track company with one side devoted to merchant and investment banking and the other side set up to provide image and strategy consulting services.

Clinton is the chairman of the company’s advisory board, reports HE. His duties and compensation have not been released. The other member of the board is former British prime minister Tony Blair.

Two of the three founding partners are very close to the former president and his wife, Secretary of State Hillary R. Clinton. They are Douglas J. Band, who is the former president’s counselor and has served on his personal staff since 1995 and Declan Kelly, who earned the “Hillraiser” status in the secretary’s 2008 run for president for bundling more than $100,000 for the campaign.

Another prominent member of the Clinton political family is Tom Shea. Shea is a senior vice president for Teneo Strategy and served as Corzine’s chief of staff, when Corzine was the governor of New Jersey.

The collapse of MF Global has caused financial pain for many, including customers at the commodities trading, Lind-Walldock. LW is owned by MF and indications are that Corzine directed the use of LW segregated cash to back up losing MF Global trading positions. Customer accounts at LW have been frozen since the bankruptcy of MF.


EPJ's Bob English is conducting further research.

UPDATE 1: More from HE: Teneo landed its first major client June 1, when the Rockefeller Foundation gave Teneo a $3,447,150, six-month contract to help plan the foundation’s 2013 centennial.


  1. This does not paint Clinton in a negative light.


    This is like saying

    "HOT! Joe Plumber linked to Bank of Shorewood in the months before it went bankrupt. Anonymous employee has stated that Mr. Plumber had at least $100 deposited with the now bankrupt firm!"

  2. "Hill"and "Billy", from the hills of Arkansas.
    have been able to bleed every turnip from
    AR "whitewater(?) scandal to Teneo.
    Like Obama's girls, "even if the U.S. goes
    down Chelsea will be o.k."
    Bottom line for these "bleeding heart liberals
    on the left", leads right back to them, their
    privileged families and their cronies...
    Country not withstanding.


  4. And that... was the end of Hillary 2012.

    She would've been better off if she'd never met Bill.

  5. I remember reading some of bc's bio...hc dumped some guy for bc for he did not have pres'l aspirations...hc hasn't done so bad in their union...