[ak267]

(Snip) The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse

(snip) Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global

(snip) I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt.

(snip) any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds...

(snip) the futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity

[HereInTheHeartland]

She wrote this 2 months ago; has been posted and discussed here.

[qaz123]

To get a better understanding of how people and his current Wall Street cronies think, one should watch, Generation Zero. It explains quite a bit.

[montag813]

This article is nonsense. For every bettor on the wrong side, there is a winner enjoying their profits. Just as John Paulson took in $6.5 billion by betting on the U.S. housing collapse.

[avenir]

I know FR has some financial wizards of sound mind. Question:

What do us suckers in an employer-based 401k (Vanguard) do to protect our money? Mine is in low risk right now, but I don’t see any options in terms of “getting out”.