CME Group 100 Billion Backstop - MF Global Bust

Discussion in 'Wall St. News' started by Mvector, Nov 23, 2011.

  1. Mvector

    Mvector

    Where is the $100 Billion the CME Group has said they have to back trades on their exchange?

    What is going on here? This MF Global mess looks like high tech theft to me. Is any FCM safe to hold funds at this point?
     
  2. CME part of the deal ?
     
  3. Mvector

    Mvector

  4. It IS theft. 1.2 Billion "missing" from segregated accounts.
     
  5. Why hasn't any of these brilliant lawyers pursue the Trustee for Grand Larceny. Client segregated funds are not assets belonging to MF Global.
     
  6. Illum

    Illum

    Not larceny, since they have access to it, it would be embezzlement if Corzine is not able to claim that insane exemption the cftc has in place. Cftc is to blame as much as Corzine. Cme I'm not so sure. Either way, your money is clearly not safe. Doesn't matter the broker, just not safe, it's a sham to think it is. If Corzine did one thing good, at least he exposed the futures industry. We clearly now know, your money can be stolen at any time and you aint getting it back. Further it isn't clear anyone will be punished. So the theft of your money in the futures market appears LEGAL. So now we know.
     
  7. syrre

    syrre

    +1

    People need to wake up
     
  8. southall

    southall

  9. Are futures accounts covered by SIPC insurance?

    Are forex accounts covered by SIPC insurance?
     
  10. There is someone on this board with $20MM at MF Global. Let's keep everything in the proper perspective.
     
    #10     Nov 24, 2011