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Anyone pulling money out of MF Global?
- Thread starter Daal
- Start date
Anyone who would trust idiot liberal trash like Jon Corzine deserves it!
BTW - Obama who claims to be a man of the people, etc. is very close to Corzine, and quite likely intends to take money lost by people who invested in MF and use it for his campaign:
http://www.nypost.com/p/news/local/bam_recruits_corzine_to_woo_back_rhuDmIaaH8fOvWAPSMTDOL
JJacksET4
BTW - Obama who claims to be a man of the people, etc. is very close to Corzine, and quite likely intends to take money lost by people who invested in MF and use it for his campaign:
http://www.nypost.com/p/news/local/bam_recruits_corzine_to_woo_back_rhuDmIaaH8fOvWAPSMTDOL
JJacksET4
www.bloomberg.com/news/2011-10-31/m...st-be-liquidated-sipc-says-in-lawsuit-1-.html
"MF Global Brokerage Must Be Liquidated, SIPC Says in Lawsuit"
"MF Global Brokerage Must Be Liquidated, SIPC Says in Lawsuit"
http://www.bloomberg.com/news/2011-...es-for-bankruptcy-protection-in-new-york.html
see third paragraph re "missing" money from customers' accounts. everyone repeat the lesson with me: never hold your money at a broker that is leveraged 40-1 on greek debt. if this isn't another reason to move everything to ib and be done with it i don't know what is. btw, what good is account segregation if the money vanishes into thin air? i'm (and i'm sure all of us et'ers) are very curious about the outcome of this missing money.
p.s. i don't have an account w/ mf. hopefully those that do were able to exit long es positions yesterday!
see third paragraph re "missing" money from customers' accounts. everyone repeat the lesson with me: never hold your money at a broker that is leveraged 40-1 on greek debt. if this isn't another reason to move everything to ib and be done with it i don't know what is. btw, what good is account segregation if the money vanishes into thin air? i'm (and i'm sure all of us et'ers) are very curious about the outcome of this missing money.
p.s. i don't have an account w/ mf. hopefully those that do were able to exit long es positions yesterday!
Quote from FrankSlaughtery:
http://www.bloomberg.com/news/2011-...es-for-bankruptcy-protection-in-new-york.html
see third paragraph re "missing" money from customers' accounts. everyone repeat the lesson with me: never hold your money at a broker that is leveraged 40-1 on greek debt. if this isn't another reason to move everything to ib and be done with it i don't know what is. btw, what good is account segregation if the money vanishes into thin air? i'm (and i'm sure all of us et'ers) are very curious about the outcome of this missing money.
p.s. i don't have an account w/ mf. hopefully those that do were able to exit long es positions yesterday!
They probably didn't have any Greek debt, but they did have Portugal, Ireland, Italy, Spain and Belgium.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3339116#post3339116
Quote from FrankSlaughtery:
if this isn't another reason to move everything to ib
Yeah, petterfly has skin in the game as he still own over 80% of IB i think. A trading god he maybe, but he is also still human, even he could fuck things up one day. very unlikely i know but it could happen. I have a good chunk of my net worth at IB.. i need to watch the IBKR stock price, if that sucker ever falls below 5 bucks then im pulling at least half my funds out on that day.
Segregated accounts are great unless someone is caught with their fingers in them like a kid stealing from a cookie jar.
The best these poor souls can hope for is getting some unsecured claim against a bankrupt company drowning in debt. Terrible thought.
The best these poor souls can hope for is getting some unsecured claim against a bankrupt company drowning in debt. Terrible thought.
Quote from Butterball:
Segregated accounts are great unless someone is caught with their fingers in them like a kid stealing from a cookie jar.
The best these poor souls can hope for is getting some unsecured claim against a bankrupt company drowning in debt. Terrible thought.
Do segregated accounts have any legal status in bankruptcy. Like getting priority ahead of everyone else owed money?