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Absolutely. it's the principal and the precedent it set.

No, sorry, you are incorrect. My funds held in segregation should never be "at risk" due to the broker going out of business. I was at Lin Waldock when Mann Financial went down, my account was perfectly safe. In the case of MFG and PFG, it was theft, pure and simple, by the head of the...

Yes, I'll agree. Was with MFG and PFG, the precident has been set that a company can take your assets without repercussions. In effect, any bank can take, use and lose your segregrated money, checking, savings or whatever. It sure wasn't set in stone that they can't, did you see any...

Yeah, well they did bid $240K for all the accounts so I guess I'm cutting them some slack in the relatively larger charges for transfers and such. I'm going to stick with them for now, add some more funds for trading and get the $50 trading credit they're offering. After that, I'll get my...

Now that's funny, made my day even though I have to clean up the Dr. Pepper I just sprayed all over the screen and key board.

Heads up, the PFG Trustee has posted claims forms to be filled out. http://www.omnimgt.com/SBLite/Templates/A/ClaimForm.aspx?clientId=CsgAAncz%2b6Y6BvbWWv8%2bb36Dj%2fDJZopCTH%2fUoH71miODakPIzfeAY2Jz9cbvsKRVwkWisq%2b56Os%3d Oh joy, been through this with MFG, now I get to do this with PFG...

That's rich, like the same concern about Mr. W. getting our money that didn't belong to him. Thanks for looking alive for us. 30% in the first payout and that's the biggest bulk of it, you know where we stand, ouch. MFG still has 20% and after payout, PFG will have 70%, yeah the double whammy...

You may wish to contact the trustee, this is getting very late in the "window" of rolling distributions for the 8% to true everyone up to 80%.

OMG, this is rich! Get a load of Erik Holder, he hasn't prosecuted anyone.

Bananna republic. +1 Corzine, in charge of MF, sets the "tone" for the entire operation. The buck stops with him for the way money is managed. It stinks to high heaven that 1.2 billion can come up missing (stolen) and there are no charges. It's a nasty slap in the face to commodity traders...

Yeah, this just doesn't fill me with confidence. Had someone been wearing a toupee with brains in it, PFG would have been busted long ago. http://www.businessweek.com/articles/2012-08-01/the-peregrine-fraud-case-is-worse-than-you-thought

Yes, that's posted on the calendar on the trustees site, just go to pfgbest.com and it'll re-direct you to trustees site, click on August 9 and you'll see it. For the most up to date news on PFG, the commodity customer coalition or www.pfgchapter7.com are the best sources to monitor.

A recap of the senate hearings today. Senators drill down into MF Global and Peregrine scandals. http://blogs.desmoinesregister.com/dmr/index.php/2012/08/01/senators-drill-down-into-mf-global-and-peregrine-financial-scandals/

Both are excellent questions and I would like to see that answered in the senate hearings but my feeling is that the trustees may only be in a position to give approximate answers.

This isn't just two companies that went bankrupt, it's an industry problem. You may trade options, ETF's or whatever and may very well be covered in the case of loss but many thousands of us are in a world of hurt. Your fellow traders involved with MF Global and PFG Best need your support...

The CCC has contact information up on their site for all members of the senate agriculture committee prior to the hearing today. Anyone involved with MFG and PFG best is asked to write call or tweet their representatives, lets let them know how we feel about our loss of funds. Here's the CCC...

For clarity. The trustee cannot give the 11 SIP customers the total value of their property back, that wouldn't be fair on the rest of us with cash accounts for commodity trading. It all has to all be even in as far as the haircut will be so someone with an exotic work of art would have to...

Those are the folks who put up gold bars, T-bills or something like a work of art for margin instead of cash like the rest of us regular folks for trading. Those people have to share in the same persentage haircut that the rest of the account holders are going to take when all this settles...

For the persentage on PFG, keep you eyes on the comodity customer collalition site, per the last phone conference, the estimated timeline for the trustee was about 2 weeks to issue a pro-rata persentage to the SIP "property" holders (which will of course be on the low side) giving them the...

Thanks for the kind words, it is appreciated. I'm out of the game for the moment, not with anyone, the reason at this point must be all too obvious. MFG'ed, PFG'ed, now I'm OMG'ed. I'll have to do my due dilligence first on a new broker. You know that Larry Williams and his wife...