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this seems to be a retraction of sorts: http://www.forbes.com/sites/robertlenzner/2011/11/11/mf-global-trustee-refuses-give-exact-amount-of-shortfall-until-all-facts-are-known/

phantom story at Forbes: MF Global Trustee Finds $567 Million Of The Lost Cash At JP Morgan | Story November 11, 2011 Aha! Six days after the House of Morgan said it did not have the segregated customer accounts of the bankrupt MF Global, the Trustee in bankruptcy has informed a group of...

So with the following big IFs 1) IF the main issue is 6B of 1-year Italy + Spain bonds 2) IF they really had not touched a 1.3B line of credit on Oct 25 and drew it down thereafter I don't see how they could actually have needed to "borrow" customer money to meet a short term liquidity...