It just occurred to me that maybe the SEC, CFTC, FSA etc will start looking into other prop shops as a consequence of all this Refco madness. It could even force a crack down on the industry by the regulators. It could even transpire that others have been doing the same thing, I mean it would be logical to presume that if Refco had certain problems so would their competition. Just think back to how Enron was exposed and then came all the other nasty shocks in the markets. If one firm is guilty there are quite likely to be others in the same boat who are trying to keep a low profile and not draw too much attention.
It will be interesting to see if other prop shops and brokerage houses start to be investigated in an effort to clean up the industry. After all this is not the first firm rumoured to be going bankrupt of late, not that I would dare to name names, but I would like to see an industry wide investigation into all the major prop. shops and brokers to see who is playing fair and who is playing dirty.
The below set of smiles remind me of a few Refco friends faces as the news broke, its the before, during, present and most likely soon to be.
:eek: 
It will be interesting to see if other prop shops and brokerage houses start to be investigated in an effort to clean up the industry. After all this is not the first firm rumoured to be going bankrupt of late, not that I would dare to name names, but I would like to see an industry wide investigation into all the major prop. shops and brokers to see who is playing fair and who is playing dirty.
The below set of smiles remind me of a few Refco friends faces as the news broke, its the before, during, present and most likely soon to be.
:eek: