MF Global full payback to customers unlikely

[vincentvega]

Quote from achilles28:

This is 100% proof the SEC, CFTC are totally corrupt.

Every trade, ticket, bank deposit and transfer leaves an electronic paper trail.

Finding out "who" got the 1.6 Billion in customer funds would take less than 1 hour at MF's Bank.

Corzine has not been arrested. Nor has he been charged. This is PURE CORRUPTION.

Bud, they know where the money is - at JPM, Quantum, and others. It's against the law to revoke trades, because they were real trades. The SIPC won't insure them (even though they could do it).

Corzine is out of a job and out of money now. He unloaded his home under priced. While ex customers hate him, there is no proof he did anything wrong. A case is obviously being built against him, for negligence or otherwise.

 

[jsp326]

Quote from vincentvega:

While ex customers hate him, there is no proof he did anything wrong.

Nope, what he did with customers' funds was clearly illegal.

http://www.washingtonsblog.com/2012/03/mf-global-personally-ordered-transfer-of-customer-funds.html

http://www.politico.com/news/stories/1111/68397.html

 

[achilles28]

Quote from vincentvega:

Bud, they know where the money is - at JPM, Quantum, and others. It's against the law to revoke trades, because they were real trades. The SIPC won't insure them (even though they could do it).

Corzine is out of a job and out of money now. He unloaded his home under priced. While ex customers hate him, there is no proof he did anything wrong. A case is obviously being built against him, for negligence or otherwise.

No proof? How old are you? 10??

As far as breaking trades, they were fraudulent. The money backing the trade was stolen. Some of the funds were recovered for Madoff clients etc. Corzine is a piece of shit that will rot beside Madoff. Everyone knows he's guilty as fuck.

 

[achilles28]

Quote from Landis82:

Funny how this website is called Elitetrader but no one seems to have had any Funds at MF Global. Does anyone here on this site actually TRADE???

I had a small American based futures account in MF Global.
Was lucky to have pulled $25,000 out one quarter before the debacle. Left $2300 in the account to keep it open. Have received 72% thus far.
Will probably get bumped up to 80% and that's it.

Sorry to hear. No, I don't think anyone here does trade. After the crash, ET got very quiet. Guess it was mostly perma bulls flipping their ira.

 

[Retired]

Quote from vincentvega:

Corzine is out of a job and out of money now. He unloaded his home under priced. While ex customers hate him, there is no proof he did anything wrong. A case is obviously being built against him, for negligence or otherwise.

Corzine out of money? I bet he has over a billion dollars stashed in some overseas bank account under someone else's name.

No proof? He was the only adult with experience in "high finance" in this amateur shop called MF Global.

 

[LincolnArmy]

Quote from vincentvega:

there is no proof he did anything wrong

That is the most stupid statement that I have seen on this site in a while.
Congratulations -You are a fucking idiot.