MF Global full payback to customers unlikely

Discussion in 'Wall St. News' started by Retired, Jun 6, 2012.

  1. Retired


  2. OnClose


    "The complex pursuit of the missing $1.6 billion in segregated customer funds lost by bankrupt broker MF Global could take up to six years to sort out"

    I guess that's cool but only if Corzine is in prison the entire six years it takes to sort things out.
  3. achilles28


    This is 100% proof the SEC, CFTC are totally corrupt.

    Every trade, ticket, bank deposit and transfer leaves an electronic paper trail.

    Finding out "who" got the 1.6 Billion in customer funds would take less than 1 hour at MF's Bank.

    Corzine has not been arrested. Nor has he been charged. This is PURE CORRUPTION.
  4. Retired


    Where's 60 minutes when you need them? Please send someone to interview the head of SEC.
  5. achilles28


    What gets me is the level of corruption going on here.

    It's enough when a dirtbag like Madoff or Corzine rob a couple billion.

    But then enter regulators, like the SEC, CFTC, DOJ, who do *nothing* about it...

    Then, the media, like the worthless sacks of shit at CNBC and Bloomberg, whose sole job it is to cover financial news, do they make any noise? Raise hell? Nope. Nothing.

    And people laugh at the idea of conspiracies. That's a conspiracy, right there.
  6. jsp326


    This should be an election issue, with him bundling for Obama, with the Justice Department totally ignoring it (but bungling all sorts of other things), etc. Candidates have made bigger deals out of lesser issues.

    But I won't hold my breath on that. The average voter won't know anything about "MF" except that it's an acronym for an expletive.
  7. Retired


    Yep. This should be remembered as a textbook case of American corruption and conspiracy.
  8. achilles28


    Good point. I don't hear Romeny talking much about fast and furious, either. Probably because it started under Bush...
  9. achilles28


  10. Funny how this website is called Elitetrader but no one seems to have had any Funds at MF Global. Does anyone here on this site actually TRADE???

    I had a small American based futures account in MF Global.
    Was lucky to have pulled $25,000 out one quarter before the debacle. Left $2300 in the account to keep it open. Have received 72% thus far.
    Will probably get bumped up to 80% and that's it.
    #10     Jun 7, 2012