MF Global admitted client funds used as crisis escalated: report

ASusilovic · Nov 1, 2011

MF Global tells officials client money used: AP

http://www.marketwatch.com/investing/stock/mf/overview?link=MW_home_latest_news

Let me recall who the head of their Compliance Department was. Maybe Thomas Cohen, U.S. Chief Compliance Officer? Ouch!

FJMcC · Nov 1, 2011

"could face civil penalties"??????????????

What could be more criminal than using segregated futures accounts to prop up your own trades?

This is sickening. The one thing that always separated Chicago from New York was that the money was segragated and we paid/got paid everyday at the close. No fucking around. Leave it to an East Coast, GS, liberal Democrat, to completely throw a 150 year old sacred trust into the garbage can after being at the company for a year or something.

Wow, just wow.

Bob111 · Nov 1, 2011

i have a message for corzine and Co-

actually this what OWS should demand from very beginning of their movement..

oraclewizard77 · Nov 1, 2011

Thankfully, I don't have my account with them and I never invested in the stock. I was actually thinking about buying at $ 1.20/sh thinking that a deal to buy them out was getting done, but this fraud killed it.

FJMcC · Nov 1, 2011

i thought of trading forex with them via their Currnex feed. Thank god I went with oanda and Advantage. If they are going to rob and stiff futures accounts, that are sacrosanct under Exchange Rules, imagine how Foreign Exchange accounts are going to get ass raped.

Golddav · Nov 1, 2011

The weird thing is that they just bough strategy runner a month ago... why would they do that ?

benwm · Nov 1, 2011

Quote from FJMcC:

"could face civil penalties"??????????????

What could be more criminal than using segregated futures accounts to prop up your own trades?

I agree. Someone has to serve behind bars for this.
If not now, when ffs?

Obama has to nail Corzine hard.

These guys need to start getting ten years or more prison time. Otherwise it will happen again and again.

stock777 · Nov 1, 2011

Quote from Bob111:

i have a message for corzine and Co-

actually this what OWS should demand from very beginning of their movement..

ows is clueless. we need real men to demand heads. there are few real men left. look at the white house, infested with pimps and charlatans.

the bankers heads should have rolled long ago.

KINGOFSHORTS · Nov 1, 2011

Shit like this happened in the late 60s and early 70s.

Nothing new here.

bonds · Nov 1, 2011

They will all get their bonuses and the CEO will get a massive golden parachute on top of his multi million dollar salary.

Occupy wall street protesters will get thrown in jail if they object.

Wall Street wins again...