MF Global Client Theft Estimate Doubled To $1.5 Billion?

[Eddiefl]

Quote from canuckrookie:

And there you have it, jefferies is having a heart attack and the market started tanking along with it. The magic wand seems to have taken over for the time being.

And there you have it, Dow up 200points. The magic wand turned it right around.

EF

 

[atticus]

Ya, I had heard on Monday from a MFG back office guy that it was 60-70 cents on the dollar. Holy shit, I thought he was just being alarmist. Apparently this was common knowledge yet Skadden Arps was last to know?


http://www.elitetrader.com/vb/showthread.php?s=&postid=3344483#post3344483

Am told that 50% of funds will be xferred before the weekend; the remainder (if any) to be held until trustee can do a thorough accounting. Very fluid situation.

 

[SREC]

Quote from atticus:

Ya, I had heard on Monday from a MFG back office guy that it was 60-70 cents on the dollar. Holy shit, I thought he was just being alarmist. Apparently this was common knowledge yet Skadden Arps was last to know?


http://www.elitetrader.com/vb/showthread.php?s=&postid=3344483#post3344483

Am told that 50% of funds will be xferred before the weekend; the remainder (if any) to be held until trustee can do a thorough accounting. Very fluid situation.

They are actually liquidated a bunch of customer positions en masse. We got most transferred but a significant fraction got frozen & liquidated.

 

[stock777]

ZH shat itself with its hysterical JEF reportage.