| MF Global Legally Used Customer Funds |
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eastmn
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Cash: $ 85.80
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| MF Global Legally Used Customer Funds |
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The news seemed to be saying that MF Global's use of customer funds
was illegal, but then I found this SeekingAlpha article.
Edit: Be sure to read the Forbes Article mentioned in the link.
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Last edited by eastmn on Wed Nov 23, 2011 2:34 am; edited 3 times in total |
Tue Nov 22, 2011 1:37 pm |
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ting231
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Location: LA
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Is it true?
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Tue Nov 22, 2011 2:46 pm |
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eastmn
Senior Member
Cash: $ 85.80
Posts: 414
Joined: 04 Apr 2010
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Gerald Celente claims to have lost millions in this mess. He's
mad as hell, and the law is warning him about his threats.
2 Part Youtube Video
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Wed Nov 23, 2011 1:51 am |
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eastmn
Senior Member
Cash: $ 85.80
Posts: 414
Joined: 04 Apr 2010
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CME Group media disclosure (Nov 15th) explains the guarantee and infers that MF Global did misuse segregated customer funds.
Quote:
"The CME Trust was established in 1969 to provide financial protection to customers in the event a CME Group member firm was unable to meet its obligations to customers. CME Trust is providing virtually all of its capital, $50 million, to CME Group market participants suffering losses as a result of MF Global’s improper handling of customer funds at the firm level."
From: http://www.cmegroup.com/clearing/files/Nov15QAGuaranteepost.pdf
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Last edited by eastmn on Thu Nov 24, 2011 12:37 pm; edited 1 time in total |
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Wed Nov 23, 2011 1:25 pm |
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eastmn
Senior Member
Cash: $ 85.80
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Joined: 04 Apr 2010
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There was another move in court where trustee (conflict of interest)
is rumored to be trying to limit victim's rights as far as clawback.
http://www.youtube.com/watch?v=LaobXsB1fnA
Also: MFGfacts.com
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Thu Nov 24, 2011 12:54 pm |
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eastmn
Senior Member
Cash: $ 85.80
Posts: 414
Joined: 04 Apr 2010
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Derivatives Attorney Jim Falvey speaks about the MF Global bankruptcy, the Volcker Rule, protection of segregated funds, conflicts of interest, and other compliance issues related to the Dodd-Frank Act.
http://www.youtube.com/watch?v=bbrws3K-cXA
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Sat Nov 26, 2011 5:58 pm |
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eastmn
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Cash: $ 85.80
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Sorry that you got burned in this mess. Hopefully, the clients' lawyers can find where he may have crossed the line (technicality, clawback).
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Fri Dec 02, 2011 8:02 am |
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eastmn
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Cash: $ 85.80
Posts: 414
Joined: 04 Apr 2010
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Ann Barnhardt was one of the first MFG headlines.
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30 min Nov 30th Interview on why she closed brokerage:
http://www.youtube.com/watch?v=nisNDsRLOH8
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Sun Dec 04, 2011 11:18 pm |
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eastmn
Senior Member
Cash: $ 85.80
Posts: 414
Joined: 04 Apr 2010
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Former employees now suing and asking for class-action.
Damages based on MFG cooking the books, concealing true
value of company stock (losses).
http://www.msnbc.msn.com/id/45566193/ns/business/
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Wed Dec 07, 2011 7:24 am |
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eastmn
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Cash: $ 85.80
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Joined: 04 Apr 2010
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Looks like he never saw it coming; somehow became blind to the risks.
Or is it conspiracy?
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Last edited by eastmn on Fri Dec 09, 2011 7:28 am; edited 1 time in total |
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Thu Dec 08, 2011 11:19 pm |
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LottomagicZ4941
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Location: Earth
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quote:
Originally posted by coaster
Well, I don't feel particularly burned. The approach I took when I opened a futures trading account some, oh, I think 17 years ago? was that I kissed those funds good-bye forever, so I wasn't emotionally tied to that money, nor was it money I needed to survive. Since then, I've brought home about 2/3 of the original capital, and so if all I ever get back is 60%, I'm still well ahead. No, it's not about the money for me; it's more about "who the heck can you trust"
It is better to invest then lose once in a while then to just waist it all.
Those who invest should come out better in the long run.
All we can do is our best. There is the old oil scam. These wells with new technology will . . . . They pump them and they dump them. Knew one guy who got burned with this but the farms he bought. Well lets just say he had good timing on the farms.
Non promotional Facebook Jail regular forum inquiry
Promotional post in advert section for new Facebook group for those building a downline
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Fri Dec 09, 2011 9:18 am |
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