Refco Account Security

I am amazed at the above statement. There that documents (according the court filings) that Bennett signed on behalf of both Refco, and Refco Global Holdings (the firm that he completely control), and Refco guarantees. Okay, you will do what you will.

On the other hand, Refco and Thomas H. Lee is doing absolutely the right thing, which is by cooperating fully. Only by distance themselves from the Bennett era will they have any chance of savaging any value for the firm.

 

No, as of this morning, this is not true (as far as I know) I am hoping that my overnight transfer out goes through, however.

 

briefing just said that "liquidity is insufficient to continue ops"

class actions suits are being filed, according to Fly and PR

Is the blow-up of the decade at hand?

 

http://abcnews.go.com/Business/wireStory?id=1209611

 

THIS is just RCM - as i understand it the 15 day block on business is also just for RCM. Refco do say RCM is a material part of the business.

 

If you are still comfortable keeping your money there after all this your nuts.

 

http://www.marketwatch.com/tools/qu...={48BA7E0E-367D-4D7B-AF1A-0A2F4F47B080}&symb=

Release from Refco

 

Announces a 15 Day Moratorium on Customer Withdrawals at Refco Capital Markets, Ltd.

 

and 15-day moratorium on custie withdrawals at RCM

 

And just yesterday on the corporate website it said "liquididty was adequate to conduct business in the ordinary course."

The "course" is right onto the rocks.

Hopefully the public can be protected and a responsible lender will put them under for good.

End it now. Get them out of business.