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The Commodity Futures Trading Commission voted 5-0 today to limit how brokers invest clients’ margin in money market funds, and ban investments in foreign sovereign debt and in-house transactions such as repurchase agreements. It is not clear whether the rule would have prevented MF Global...

Lombard, Illinois-based fund Highridge Futures Fund LLP on Friday said its more than $50 million account with the broker-dealer unit of MF Global Holdings Ltd (MFGLQ.PK) is missing, and asked a federal bankruptcy judge to order the trustee to find it. "This account is nowhere to be found,"...

Of course my confidence has been shaken. I repeat. The CFTC should've made an example of that Corzine crook. Otherwise as you point out brokers have been granted a free option which amount to a license to steal customer's money.

Another MF Global bad precedent: customers were blocked out of their accounts. The system is supposed to be able to allow orderly settlement/closure of positions and fund transfers, but everything was badly mismanaged by Corzine's crook team. Something to think about: MF Global management was...

MF customer problems are due to fraud, not something seriously wrong with the system. I guess there's probably a monitoring problem but other brokers should be taking note that if they play with customer's money, they can vanish in a millisecond. That Corzine guy should be right now in jail, a...

MF actually was more expensive in commisions than other firms. You could get cheap trading only through its introducing brokers.

http://ftalphaville.ft.com/blog/2011/10/31/717181/mf-global-and-the-repo-to-maturity-trade/ MF Global and the repo-to-maturity trade "So, while most of the media has been commonly referring to MF’s sovereign bond positions as proprietary bets gone wrong, there’s more to it than just...

http://online.wsj.com/article/SB10001424052970204394804577012061970129588.html?mod=googlenews_wsj "A person familiar with the situation said FBI officials have decided to examine the discrepancy to determine if customer money is missing. If it is, FBI officials would then have to decide...

http://www.google.com/url?sa=t&rct=j&q=MF%2BGlobal%2Blooks%2Bto%2Btake%2Bmore%2Brisk%2Bsite%253Arisk.net&source=web&cd=1&ved=0CCcQFjAA&url=http%3A%2F%2Fwww.risk.net%2Frisk-magazine%2Fprofile%2F2037948%2Fmf-global-looks-risk&ei=JISwTrOUAsKXtweb6cSTAg&usg=AFQjCNH9z7Gbmwonck1mAhbTB25CPShNfg MF...

That leaves Interactive Brokers as the biggest independent futures broker in town. 2nd Place RCG.

Yes the ECB is under huge pressure to do "what every other CB is doing". But ... is monetary easing "by every other CB in the world" solving any problem at all? Deflation is the natural response to previous excesses in private and public debt. The system has to clean up the rot, remove...

In Latinamerica lending rates are high, but deposit rates are low. Banks lend at 15-20% average, but pay 4% or less for deposits. That's why people don't save: low rates plus abusive commissions imply that money in savings accounts will erode quickly.

http://thehill.com/homenews/house/174649-whip-count-house-leaders-seek-votes-to-pass-debt-limit-deal

http://www.newser.com/article/d9oqdvc80/suddenly-a-late-stab-at-debt-limit-compromise-to-avert-us-default-after-weeks-of-sniping.html

http://www.cnn.com/2011/POLITICS/07/30/debt.talks/index.html

The media starting to pickup commentary that Obama and the democrats have been lying all along, that default is not coming, that the world is not ending if ceiling not raised, then they inmediately fold and essentially agree to Boehner's plan...

This is essentially Boehner's plan, so Moody's should reaffirm AAA rating, per its friday statement. With negative outlook though.

http://www.businessweek.com/news/2011-07-31/framework-of-deal-is-said-reached-on-raising-u-s-debt-ceiling.html

http://blogs.abcnews.com/thenote/2011/07/white-house-republicans-strike-tenative-deal-to-raise-debt-ceiling-.html

Super-bullish. The government got us into this mess to begin with.