The pure form of seamless government-corporate "crony capitalism formerly also known as Liberal-Fascism" was at work here. It even included the now defunct and bankrupt financial side company, MF Global. It even had corporate CEO of Goldman Sachs - turned US Senator - turned NJ Governor - turned MF Global CEO. It seemed to be a who you know rather than a what you know (and are competent of doing anything) scenario that played out in this case, as in so many others, recently.
The strong whiff of corruption lingers in the air, but it hasn't yet been uncovered, nor has $1.2 Billion.♘