MF Global: customers with warehouse receipts get 72%

[asap]

Quote from clacy:

I don't think anyone is saying that collapses and black swans don't happen or that they can all be prevented. Rather, I think the point is that MF Global execs need to be PROSECUTED some how, some way. These men need to go to jail for a very long time, so as to send a message to the market place that if you don't live up to your responsibilities, you'll face hard time.

i am still waiting to see evidence of wrong doing. some on this board might be upset because they lost money others because they want to join the pathetic bandwagon of obama friends are corrupt but none has yet pointed out where MF hasn't been playing by the rules.

the rules are poorly designed to withstand difficult times and the regulators should put break on the re-hypo shit that lead to a massive bet on junk debt using MF customer assets as collateral - true, but again, not MF's fault the regulation is completely flawed.

now, the idea that every time a company goes bust, the management has to be prosecuted is ludicrous. wtf?

 

[Random.Capital]

Quote from newwurldmn:

There's a difference between you putting your money under a mattress in a building that caught fire and you paying someone and they put your money under a mattress in a building that caught fire.

The difference is that when it's in your own mattress, you can make sure a suitable level of safeguards are in place.

When it's in someone else's mattress - you can't.

 

[Cdntrader]

sorry but this is just toooo funny. These guys holding physical gold/silver are the mega bears and they get run over by exactly what they are afraid of - a financial meltdown.

You can't make this stuff up.

 

[Fractals 'R Us]

Quote from Cdntrader:

sorry but this is just toooo funny. These guys holding physical gold/silver are the mega bears and they get run over by exactly what they are afraid of - a financial meltdown.

You can't make this stuff up.

+1

 

[badvestor]

Daylight robbery with govt consent.

This keeps up and hopefully someone will make a comprehensive list of lowlife regulators, CME officials and other enablers who knew about this. Since the goons in govt won't do a thing and keep on making baseless regulations to enable thievery, people need to start being marked and then beaten into a bloody pulp in broad daylight. Without some violence nothing will change with the status quo.

 

[Options12]

Does anyone know if MF customers had a "mandatory arbitration" clause in their U.S. brokerage agreements?

If they did, was the clause canceled automatically when the firm went bankrupt?

 

[lorax2013]

Quote from Cdntrader:

sorry but this is just toooo funny. These guys holding physical gold/silver are the mega bears and they get run over by exactly what they are afraid of - a financial meltdown.

You can't make this stuff up.

Sorry but no megabear/goldbug equates a warehouse receipt with physical gold/silver. Goldbugs are all insane conspiracy theorists who believe ridiculous things - like a government so corrupt it would steal gold warehoused under an individual's name in a major depository. Those crazy goldbugs....

 

[lorax2013]

Quote from asap:

wtf are you talking about?

clients are getting their fair share of the settlement. too bad they lost money but that's risk of doing business with a third party, either a broker, bank or government.

you can have a ton dollar bills under your mattress and then one day there is fire and all your money is gone. what are going to say then? fire stole your money?

I agree, risk management is a vital element of trading or investing - pretty obvious. I'm saying that the MF debaucle is new data. To me this event, the lack of prosecution, and the way it is being handled, indicates an unacceptable level of risk in the futures market. If on the other hand, you don't care since "doing business with a third party" always involves risk - then I hear Nigerian bonds have an attractive rate of return.

 

[stock777]

da biatch O’Brien tooks your money!


http://dealbook.nytimes.com/2011/12...ient-funds/?smid=tw-nytimesdealbook&seid=auto

she be good at it 2 !

 

[m22au]

Quote from Cdntrader:

sorry but this is just toooo funny. These guys holding physical gold/silver are the mega bears and they get run over by exactly what they are afraid of - a financial meltdown.

You can't make this stuff up.

Actually you just made it up - because these people were not holding physical gold/silver. They were holding warehouse receipts for the metal. Which is not "physical".