FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 MF Global Files for Bankruptcy View next topic
View previous topic



Post new topicReply to topic
Author Message
dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: MF Global Files for Bankruptcy
PostPosted: Wed Nov 02, 2011 4:55 pm Reply with quoteBack to top

Corzine holds obummers money ...he probably diverted the $700B into obummers campaign coffers. The truth will never see the light of day.

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: MF Global Files for Bankruptcy
PostPosted: Wed Nov 02, 2011 5:21 pm Reply with quoteBack to top

bdc63 wrote:
Corzine is a Bilderberger. They don't make mistakes and they don't go to jail. He'll come out of this smelling like a rose and running the Treasury.

http://home.alphalink.com.au/~.....erger.html

CNBC loves nothing move than watching a CEO or one of these financial gods fall from grace. Heck, watching an elected Democrat fall from grace is practically a reason for firewooks on that netwook. And here, in Corzine, they have all 3 in one person. But have you noticed how NO ONE - not one anchor or guest - will bash Corzine? Most people are saying things like "I know the man, and I know he would not be involved in something like this -- there must be information we don't know yet".

What a f*ckin load of c**p.


i take a little good will from the CME investigation.

They are too big to BS on what the facts are.

If it was two weeks ago, they would have swept it, but now Post Event, they will have no qualms about who they throw under the bus (or how big a bus to use).

The CME experts will be able to track the "co-mingling" of funds better than the SIPC or FBI.

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
View user's profileSend private message
bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: MF Global Files for Bankruptcy
PostPosted: Wed Nov 02, 2011 9:23 pm Reply with quoteBack to top

Ut oh.

MF Global Client Theft Estimate Doubled To $1.5 Billion?

http://www.zerohedge.com/news/.....15-billion

Quote:
Even as we hear rumblings that the MF fire is spreading, and the associated auditor of the now infamous former Primary Dealer is about to get in serious hot water, the bankrupt company itself continues to dig itself an ever deeper grave. Because according to a just filed motion by the MF Global liquidating trustee, it seems that the gross criminal activity by the company may have been orders of magnitude bigger than anyone has expected. To wit: "As a result of the apparent segregation violations and the suspension of clearing privileges, more than 150,000 customer accounts essentially were frozen on October 31, 2011, of which more than 50,000 accounts were regulated commodities customer accounts. The CME estimates that MFGI’s current segregated funds requirement is approximately $5.45 billion. Moreover, the total amount of MFGI customer segregated funds on deposit at the CME is approximately $2.5 billion, and the clearing-level segregated collateral is approximately $1.5 billion or approximately 60 percent of the MFGI customer segregated funds on deposit at the CME." Doing some quick inverse addition and we get a (w)hole of $5.45 less $2.5 less $1.5 or $1.45 billion. In other words, the theft by MF Global was not stealing hunderds of millions form its customers: it has stolen a whopping $1.5 billion! For those confused, this is not a rogue loss of $1.5 billion, something which was enough to send UBS' Kweku to prison. This is outright theft resulting from illegally commingled accounts. Our only question is will $1.5 billion in theft be enough for the first real perp walk of an Obama-friendly Wall Street executive?

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
View user's profileSend private message
bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: MF Global Files for Bankruptcy
PostPosted: Thu Nov 03, 2011 2:09 pm Reply with quoteBack to top

and the contagion begins

trading has just been halted on Jefferies after it fell 20% or an Egan Jones downgrade

Two failed primary dealers in the span of a week? Shocked Now THAT would be a stunning development. Wonder if Jefferies has done a better job on the whole "comingling" issue (Of course Jefferies is coming out saying they are well hedged and not over leveraged, but we'll see how that works out for them)

People need to stop focusing on Europe cause we got trouble right here in river city

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
View user's profileSend private message
dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: MF Global Files for Bankruptcy
PostPosted: Thu Nov 03, 2011 8:39 pm Reply with quoteBack to top

How can they fail...they just told us everything was OK? HA HA

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: MF Global Files for Bankruptcy
PostPosted: Fri Nov 04, 2011 1:39 am Reply with quoteBack to top

Meredith Whitney says all is fine with Jefferies, Case closed.

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
View user's profileSend private message
bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: MF Global Files for Bankruptcy
PostPosted: Fri Nov 04, 2011 11:32 am Reply with quoteBack to top

Corzine just resigned "from all posts" and "will not seek severance"

Boards that he sits on are coming out and announcing that they're letting him go.

Yesterday he hired the same attorney that John Thain used in '08

hmmmm .... sounds like an innocent man to me.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
View user's profileSend private message
dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: MF Global Files for Bankruptcy
PostPosted: Fri Nov 04, 2011 12:21 pm Reply with quoteBack to top

He is now free to take a job for obummer in gubermint...he has proved himself.

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: MF Global Files for Bankruptcy
PostPosted: Fri Nov 11, 2011 4:11 pm Reply with quoteBack to top

MF Global’s Customer Assets – STOLEN – And Nothing
You Hold In This System Is Safe
Jesse's Café Américain


http://www.silverbearcafe.com/.....lobal.html


Very interesting...in your face theft. The elite is now just stealing everything they can right in your face...must be something real big a'coming that they are desperate to get all they can now before the real SHTF.

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: MF Global Files for Bankruptcy
PostPosted: Mon Nov 14, 2011 10:23 pm Reply with quoteBack to top

The gov't has enough horse power in the probe to ensure that nothing will see the light of day and truth will be buried...maybe we'll see some lying report in a few years.


Quote:
The “around the clock” probe of MF Global’s cash movements is being conducted by the U.S. Justice Department, the Commodity Futures Trading Commission, the Securities and Exchange Commission and the trustee’s staff in cooperation with the Securities Investor Protection Corp., Giddens said on his website last week.



http://www.businessweek.com/ne.....arent.html

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic


 Jump to:   


Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT