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That is also not accurate. US institutional clients lost eight figure $$$ after opening accounts IN THE US that were then switched to Lehman's London subsidiary. Most of them did not realize Lehman had that option. And, since few actually read it all, opening in the US is no iron clad...

WTF is Atlas? Does anyone take these people seriously? The guys in Chicago -- former locals -- seem to take both RCG and Crossland seriously. I know less about Velocity and Open E Cry but I know least of all about Atlas. Can someone tell me if they have been around awhile and if they have...

That is a relatively new phenomena because "in the day" it really wasn't much of a factor. Stock loan was a profitable department but based on generating market interest rates of return. That's why I prefaced my remarks with "I don't trade securities anymore". It is just too easy for...

Hank has had CNBC in his pocket for years. I have no idea what he must have on these people but the bias to treat him as if he was an innocent victim is constant. I'm not a fan of Spitzer or Maria or CNBC but in this instance Spitzer destroyed her.

MF filed a report on August 31, 2011 reflecting their financial condition as of July 31, 2011. In that report they showed an Excess Net Capital of ($150,569,277). My wife and I each receive an email every month from the CFTC alerting us by the 11th or 12th that the report is on their site...

NP

Close your account ASAP; Monday before you have breakfast. This is not a commentary on the firm you use. I know nothing about them. But if you need to ask "are they my broker" you need to study some before you enter this highly competitive business. You are dead meat until you educate...

Forever is a long time.

You are conceptualizing the transaction backward. While I don't trade securities anymore -- futures only -- when I did I negotiated hard for the rate my firm paid me on short sales. When you borrow the stock you put up 50% of its value. That stock then gets sold out of your account and the...

The problem that confronts the AMP customer is that they are very lightly capitalized or, to put it more plainly, the principals don't have much money invested in the firm. I can deal with that particularly if I leave only three, four or five thousand dollars there and use their day trade...

When MF Global went down many traders seemed to regard it as an aberration -- a one time event that arose from a very unusual set of circumstances. They did not even pay attention to the CFTC financial reports that showed MF was clearly in trouble months before it went down. Contrary to the...

The glasses were an arb? lol. Or was The Times I couldn't read the arb. This line of debate is a real stretch. I'm not arguing NPV. The principal is gone. It might come back but like the glasses it is now gone. I doubt that an eight figure loss (if it ends up there) will be covered in...

Thanks for keeping us informed. Having insurance would be nice but I guess it is not to be!

OK ... is the deal available for non-Canadians! No sense in letting my oversight result in an international deluge of questions ... lol.

Can a US citizen open up with a Canadian firm and have the advantage of the insurance? Would Canadian residence help a US citizen be covered?

As long as it is traded on a US regulated exchange you get to bend over just like the rest of us!

You are listening to THE INDUSTRY!! Yes ... those seg funds are in the Customer Part 30 Account which is a more dangerous place to be. The secured nature of those funds that they speak to means that the funds of their clients are co-mingled in an account and are the security. The Empire...

I agree with this completely but would add one thing. The counterfeit bid is holding up pretty much every market and preventing all of them from reaching prices that will clear them: Housing, treasuries, gold, silver, oil. There has to be some creative destruction or we will just peg it all...

But that is the point of the analogy. Both the glasses and the money were lost. Once things are lost they may or may not be found again. I suspect the payout on this deal to be low ... buy hey, I never expected to see those glasses again!!

I think that is not the case. You are correct that funds that are received from the liquidation of foreign futures are in a separate account -- A Customer Part 30 account -- but I believe that is a seperate seg account. Imagine a guy that is arbing interest rate differentials between Chicago...