Anyone pulling money out of MF Global?

Quote from rdoran0824:

I agree with the prior post.

It is ridiculous to assert that our claim would be unsecured.

This money was simply stolen and I can't believe that the return of stolen property would not be a priority for the bankruptcy court.

On a brighter note, the ICE seems to be pleading our case for the release of customer cash, at least up to the amount that other traders received as part of the bulk transfer.

Hopefully, the court support their appeal. It is only fair.
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I think everyone is unsecured until you assert that you are secured. The Trustee probably does not want to give any legal advice now, but I would hope when it gets that far he will make that claim.
 
Quote from Rodney King:

Everyone should be thinking twice before entrusting money to a Democratic........////////// politician//////...... again.
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politician.dem /rep..no difference
 
Prudence Doesn’t Pay

The people who were most prudent are being hurt the worst, said Don Miller, 50, a member of the CME since 2004 who works remotely from his home in the Boston area and has more than $2 million at risk, including his business and retirement accounts.

“Some people put a little in for margin, those of us who don’t believe in excessive leverage put more in for our activity in the course of providing market liquidity than we need,” Miller said. “Because of the segregated aspect, that money is supposed to be safer than with a bank.”

“My trading business and my life have come to a complete stop,” said Miller, who has a $30,000 college bill for his daughter coming due.


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Uh, all that cash and its all (or most of it) at risk with a brokerage?

Fugggg that.

I have a small FRACTION on my net worth at all brokers combined, and anyone that has more than 1/2 is a nitwit.

if that 30k is a problem, it shouldn't be.
 
No one is talking about your multiple demo accounts. :-)

Quote from stock777:

Prudence Doesn’t Pay

The people who were most prudent are being hurt the worst, said Don Miller, 50, a member of the CME since 2004 who works remotely from his home in the Boston area and has more than $2 million at risk, including his business and retirement accounts.

“Some people put a little in for margin, those of us who don’t believe in excessive leverage put more in for our activity in the course of providing market liquidity than we need,” Miller said. “Because of the segregated aspect, that money is supposed to be safer than with a bank.”

“My trading business and my life have come to a complete stop,” said Miller, who has a $30,000 college bill for his daughter coming due.


====-==-==-==-==-==-==--=-=-==
Uh, all that cash and its all (or most of it) at risk with a brokerage?

Fugggg that.

I have a small FRACTION on my net worth at all brokers combined, and anyone that has more than 1/2 is a nitwit.

if that 30k is a problem, it shouldn't be.
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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 traders trying to get their money back that yes, indeed, 88% of the missing $630 million has been found. But, JP Morgan and the [...]

but the link to the details goes nowhere - taken down maybe?

great stuff for a conspiracy theory but more likely something stupid

anybody know anything?
 
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