Farmers Sue Jon Corzine Over Missing Millions

Discussion in 'Wall St. News' started by Mvector, Jan 10, 2012.

  1. Mvector


  2. SteveH


    Bet this gets thrown out because rehypothecation covered what MFG was investing in. The CFTC has closed the foreign funds investment clause recently. Too late for MFG customers.

    This article sounds good but it doesn't look like any laws were broken. "Segregated brokerage accounts" doesn't mean the money is off-limits to rehypothecation in uninsured (by the SIPC) futures accounts.

    I have no idea why this didn't come out in the recent hearings. Corzine knew all about this because he was the one (according to other news reports) who lobbied for the FFI prior to making those leveraged bets with MFG's money in the first place. The CFTC panel who allowed that clause to exist are the ones who should explain their reasoning, not anyone at the former MFG.
  3. hkrahra


    Why this bitch isn't still hanged by his balls?
  4. ammo


    they ought to sue over conflicting interests if they can prove he was planning to move in to mfg before term ended and passed the bill for that reason,must be a law that makes it an act against the U S, a traitor or treason