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MF Global Legally Used Customer Funds

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eastmn
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MF Global Legally Used Customer Funds  Reply with quote  

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
Post Tue Nov 22, 2011 1:37 pm
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ting231
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Is it true?
Post Tue Nov 22, 2011 2:46 pm
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eastmn
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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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Post Wed Nov 23, 2011 1:51 am
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eastmn
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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 Globalís 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
Post Wed Nov 23, 2011 1:25 pm
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eastmn
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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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Post Thu Nov 24, 2011 12:54 pm
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eastmn
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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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Post Sat Nov 26, 2011 5:58 pm
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eastmn
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Cooked the books...

Update:
Analysis: MF Global proves Enron-era accounting lives on
http://www.reuters.com/article/2011/12/01/us-mfglobal-accounting-idUSTRE7B02PS20111201

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Post Fri Dec 02, 2011 12:31 am
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eastmn
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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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Post Fri Dec 02, 2011 8:02 am
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eastmn
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The Telegraph (Nov 8th):
MF Global paid bonuses just hours before bankruptcy

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Post Sat Dec 03, 2011 8:03 pm
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eastmn
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Ann Barnhardt was one of the first MFG headlines.
===================================
30 min Nov 30th Interview on why she closed brokerage:
http://www.youtube.com/watch?v=nisNDsRLOH8

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Post Sun Dec 04, 2011 11:18 pm
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eastmn
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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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Post Wed Dec 07, 2011 7:24 am
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eastmn
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Corzine had board approval to ignore his risk officer.

Corzine Blew Off Risk Officer.

Corzine Fired Risk Officer

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Post Thu Dec 08, 2011 11:03 pm
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eastmn
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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
Post Thu Dec 08, 2011 11:19 pm
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LottomagicZ4941
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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
Post Fri Dec 09, 2011 9:18 am
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eastmn
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Might find this Interesting (applicable):

SEC sues agency in Stanford case (Wants Customers Made Whole)

I'm also watching Wepollock Youtube Channel

sanford

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Last edited by eastmn on Wed Jul 04, 2012 8:51 am; edited 1 time in total
Post Tue Dec 13, 2011 11:35 am
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