MF Global - WTF! Customer money gone missing?

[syswizard]

Quote from athlonmank8:

Greed is good. Greed works.

Until you get sent to jail...which is exactly where Corzine is going !

 

[buzzy2]

Quote from Rodney King:
And much of it low-quality business. MF was a "price cheater" in the clearing space. Many of its customers are penny-pinchers who won't be warmly welcomed by the other big clearing firms.

MF actually was more expensive in commisions than other firms. You could get cheap trading only through its introducing brokers.

 

[zdreg]

bear stearns refused to accept discount brokerage firms as clients

 

[Rodney King]

Quote from buzzy2:

MF actually was more expensive in commisions than other firms

Huh? MF was more expensive than the other large FCMs? Before you answer, look closely at lists of the largest firms, such as this one from a couple years ago:

01 GOLDMAN SACHS & CO
02 NEWEDGE USA LLC.
03 JP MORGAN FUTURES INC
04 UBS SECURITIES LLC
05 CITIGROUP GLOBAL MARKETS INC
06 MERRILL LYNCH PIERCE FENNER & SMITH
07 MF GLOBAL INC.
08 DEUTSCHE BANK SECURITIES INC
09 BARCLAYS CAPITAL INC
10 MORGAN STANLEY & CO INCORPORATED