MF Global Customer Money Traced To JP Morgan

Discussion in 'Wall St. News' started by DreamAlloy, Dec 23, 2011.

  1. Looks like Max Keiser was dead on last week.

    Federal authorities investigating the collapse of MF Global have uncovered e-mails that detail the transfers of money in the firm’s last days, including transfers that contained customer money, according to people close to the investigation.

    One e-mail chain refers to the transfer of roughly $200 million that MF Global owed JPMorgan Chase on Oct. 28 — the firm’s last business day before it filed for bankruptcy. In that chain, a senior official in the firm’s Chicago office was told to make the transfer, said the people close to the investigation who requested anonymity because the inquiry was still open.
  2. This is priceless:

    In the last year and a half, Ms. O’Brien has made several appearances before the Commodity Futures Trading Commission. On at least two occasions, she was a panelist at roundtable discussions held at the agency on the topic of safeguarding customer money...
  3. You know I don't want to sound like an extremist because I don't see myself as one.
    If we want to solve financial problems, we gotta give DEATH SENTENCES to people in finances that screw up.

    In China if you steal money, you are a dead man, whole court thing is done in 1 month and you die by hanging or firing squad.
    And I don't think they even let you choose bullet or rope.
  4. She wanted to keep her ear to the ground, likely...

    Bernie Madoff wrote some rules for the FTC..
  5. plyka


    Capital punishment is too much. Moving towards the communist tendencies of China is not something i recommend, rather we should move towards their more capitalist tendencies.

    But at the very least this scoundral Corzine should be in prison for the rest of his days. HOw does this ruling elite insider get away without going to prison? If you have me 1 week with access to MF global financial wires, I could tell you what happened to the money. These criminals stole money from segregated accounts. The evidence is there, all one has to do is look for it. And they won't look. Why? Because Corzine and his cronies are part of the ruling elite.

    If a young black kid steals $5 the kid goes to jail after getting his ass kicked by cops. If you're part of the ruling elite, you can kill, steal, do whatever you want with no punishment. When was the last time one of these criminals went to jail? People in the Bush administration lied, stole, killed through wars, etc., and nothing. Guys in the Obama administration are the same. The attorney general sold automatic rifles to drug cartels in an attempt to blame the crime on the 2nd ammendment. People died because of this. And yet he doesn't even lose his job.

    The objective analysis is that the rule of law is completely destroyed. The ruling elite can do whatever, whenever and they don't even lose their jobs, much less go to jail. Forget about capital punishment.
  6. Doesn't matter if JPM had a legal claim or not. That money will be clawed back from JPM.
  7. Most definitely
  8. Obrien may have copted a plea in exchange for her cooperation. With criminal charges that could be filed, I'm sure the alphabet agencies, FBI included, are giving everything a very thorough investigation, making sure that all the dots are securely connected. Nobody wants to be in a rush to get this wrong. With the hearings in congress and senate, elected officials in a reelection bid, they'll want to prove that they're doing something.
    We'll see.
  9. Ms. Edith O'Brien:

    "I think that a number of individuals from this table don't have the benefit of the extensive experience of the FCM structure, and I've heard two hours of dialogue about seg customer movements between the clearinghouses and the exchanges, and as the conversations continued, it appears that this is extraordinarily myopic view of the current safeguard structure that operates in America and has effectively worked to the best of my knowledge for years."

    Wow! There she is sitting down with the CFTC recognizing HERSELF as the EXPERT on customer collateral protection and advocating to leave the current system alone because it has "effectively worked to the best of my knowledge for years". You can't make this stuff up! Let's look at who else is sitting at this "adviser table" helping the CFTC "understand" how to write our laws...


    MAUREEN BURKE - Bank of America, Merrill Lynch

    RICHARD PRAGER - BlackRock

    DAVID MALOY - Credit Suisse Securities (USA)

    KIM TAYLOR - CME Clearinghouse
    #10     Dec 25, 2011