What Happened to MF Global?

Did they arrest anyone? Corzine? Did customers get their money back?

 

Nobody is going to jail. I think they said, "it was Bush's fault".

 

So nobody got their money back either? Wow.

 

No...and they just distributed bonuses in the millions

cheers
john

 

what happens to their bonds? can't find any data either. i bought one(don't remember the cusip) for quick profit after default,but can't find any data any more

 

I'm floored. Billions out the backdoor and down the memory hole? Wow.

You know, this is perfect example of how bloody corrupt the entire Federal Government is from the top, down. The SEC, CFTC and DOJ did nothing about this? No prosecutions? No investigation? No nothing? Just whatever, steal whatever the f*ck you want, it's all good. Wow.

 

Yeah, the bonuses were ridiculous, but (most?) clients supposedly have somewhere between 72% and 90% of their funds back. Or something like that. That battle is still being fought. Some investment firms are even trying to buy claims on MF Global accounts for a discount.

It's still horrendous, though. The whole thing shouldn't have happened, and even if it did, MF should've gone through a Chapter 7 bankruptcy (customers > creditors), rather than a Chapter 11 bankruptcy (where customer interests aren't upheld).

The whole thing is a travesty and if there were any "justice" in the DoJ, they would've been all over Corzine.

 

Just think... If Corzine were black, Holder might have anointed him as "Saint".

 

So a 10-30% haircut? And is that money "gone", forever? Or are customers expected to be made whole? Did they bother tracking down who actually got that missing cash? Or is that detail "irrelevant"?

 

It is a stunning story, no question! I wonder if Corzine being a loyal dumbocrat has anything to do with the FACT that the media hasn't given this much attention? Hmmm...