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MF Global Sold Assets to Goldman Before Collapse (Surprise, surprise...)
CNBC ^ | 1/4/12 | Reuters

Posted on 01/04/2012 4:12:54 PM PST by jimbo123

MF Global unloaded hundreds of millions of dollars' worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions.

(Excerpt) Read more at cnbc.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: corzine; dollarcollapse; economy; fed; fedcorruption; obama; usbondcollapse; usdefault
First Soros, now Goldman.
1 posted on 01/04/2012 4:12:56 PM PST by jimbo123
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To: jimbo123

THIS MUST BE PROSECUTED!!!!!


2 posted on 01/04/2012 4:15:53 PM PST by Ann Archy ( ABORTION...the HUMAN Sacrifice to the god of Convenience.)
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To: jimbo123

Surprise surprise Goldman Sacks again.


3 posted on 01/04/2012 4:18:36 PM PST by jpsb
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To: jimbo123
Not to worry, the SEC & DOJ will be ALL over this.
Oh wait ...

4 posted on 01/04/2012 4:19:04 PM PST by oh8eleven (RVN '67-'68)
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To: jimbo123
I still can't get over the name “MF”.
5 posted on 01/04/2012 4:21:12 PM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: jimbo123

Holy sh*t!! WTF?????! My head is going to explode!


6 posted on 01/04/2012 4:22:47 PM PST by VA40
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To: jimbo123

The guy who was in charge of the funds at MF...was also the “financial Advisor” to the EPA!!!


7 posted on 01/04/2012 4:26:49 PM PST by goodnesswins (Adversity makes us bitter or better.)
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To: jimbo123

BOHICA BOHICA.....you know who’s going to “cover” this thief


8 posted on 01/04/2012 4:30:31 PM PST by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: jimbo123

So now the lawyers can go after Goldman, to see what they bought and at what prices...


9 posted on 01/04/2012 4:33:29 PM PST by NativeNewYorker (Freepin' Jew Boy)
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To: Ann Archy

No, hang them and confiscate their families wealth.


10 posted on 01/04/2012 5:01:43 PM PST by FightThePower! (Fight the powers that be!)
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To: jimbo123

Hey, Cordray can go after Corzine as his first job.

Yeah, I know it is sarcasm.


11 posted on 01/04/2012 5:08:34 PM PST by Presbyterian Reporter
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To: NativeNewYorker
clawback better apply...
12 posted on 01/04/2012 5:41:49 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: jimbo123

Thanks very much for posting. BTTT!


13 posted on 01/04/2012 5:43:40 PM PST by PGalt
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Expose The Clowns In DC


Click Obamas Cabinet

Support Activist Free Republic

14 posted on 01/04/2012 5:45:54 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: jimbo123

If Goldman Sachs went down the tubes tomorrow we all would be better off !

It is a revolving door, White House, Congress / Fed / Sachs

Nothing, comes from this hole that is good for the Country


15 posted on 01/04/2012 5:58:48 PM PST by reefdiver ("Let His day's be few And another takes His office")
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To: jimbo123

What a cluster funk.


16 posted on 01/04/2012 6:07:04 PM PST by NotSoModerate
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To: Chode

There won’t be any clawback. I’ve come to the realization that this country is being run by crooks and incompetent boobs. Across the board. We’re a third world nation and don’t realize it, as the printing press is the only thing disguising that reality.


17 posted on 01/04/2012 6:14:29 PM PST by NotSoModerate
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks jimbo123. I'm sure this was just a huge misunderstanding:
MF Global unloaded hundreds of millions of dollars' worth of securities to Goldman Sachs in the days leading up to its collapse...

18 posted on 01/04/2012 6:15:55 PM PST by SunkenCiv (Merry Christmas, Happy New Year! May 2013 be even Happier!)
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To: jimbo123

TAR. FEATHERS.


19 posted on 01/04/2012 6:38:15 PM PST by denydenydeny (The more a system is all about equality in theory the more it's an aristocracy in practice.)
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To: SunkenCiv

Pass this along if you wish.

Ann wrote this a couple of weeks ago and has done followup articles since...


I’m Calling for a General Financial Market Strike
Posted by Ann Barnhardt - December 20, AD 2011 9:10 PM MST
I have received a few emails asking if I was still content with my decision to shut down my brokerage. Not only am I content, but after seeing the news that broke over the weekend, I am of the considered opinion that the entire financial blogging community should formally call for a general financial market strike. And I’m not kidding. A couple of things have happened regarding the MF Global mess that I don’t think got the attention they should have because they broke over the weekend. So let me fill you all in.
First, all notions of personal property rights were essentially destroyed when the MF Global “trustee” began seizing customers’ gold and silver bullion held in storage if that bullion was purchased through contracts brokered by MF Global. In case you’re not following, let me restate. MF Global customers who traded in precious metals and actually took delivery and OWNED bullion, as in outright, free and clear OWNERSHIP, complete with a warehouse receipt (aka title) with SERIAL NUMBERS designating exactly which physical bars they OWNED, and were PAYING RENT to STORE their own property in a “secure” VAULT, complete with statements indicating that these storage fees were paid in full, are having THEIR PROPERTY THAT THEY OWN AND ARE PAYING RENT TO STORE CONFISCATED by the MF Global trustee in order to feed the gaping maw that is the MF Global “estate”.

This would be EXACTLY like if you rented a little storage space at one of the thousands of storage facilities that dot this nation, and stored a car there. I used to do exactly this when I had multiple cars. Imagine the owner of the storage facility went bankrupt. Now imagine that a “trustee” SEIZED YOUR CAR, sold it, and used YOUR PROPERTY to feed the storage franchise owner’s BK. Nevermind that you had an explicit RENTAL AGREEMENT and that you had receipts proving that you were paying monthly rent on said storage space, and that you could produce clear title to the car showing that you owned it, and that the VIN numbers matched.

Do you understand what is happening now? This is outright confiscation of personal property. After having their money stolen out of their accounts and being locked out of their accounts, unable to trade or even liquidate WHILE THE MARKETS CONTINUED TO TRADE, these people are now having their PERSONAL PHYSICAL PROPERTY stolen and redistributed to the MF Global estate, in order to feed Corzine’s gambling debts – MADE ILLEGALLY WITH FUNDS STOLEN OUT OF THE CUSTOMER ACCOUNTS – to repay counterparties with J.P. Morgan at the fore.

So guess what? This is now establishing the precedent that ANY property held by a third party can be seized and confiscated to feed a bankruptcy of said third party. This includes BANK DEPOSITS. Now, please consider that all of the major banks in the United States are insolvent, and insolvent MULTIPLE TIMES OVER. Bank of America, Wells Fargo, Citi, all of them. When these banks collapse – and they WILL collapse - any deposits they are holding WILL BE CONFISCATED and redistributed to their counterparties. Citation URL here at Market-Ticker.org:

http://market-ticker.org/akcs-www?post=199356

Oh, but there’s more.

Also announced over the weekend was the jaw-dropping, yet illuminating fact that the MF Global bankruptcy was fraudulently, nefariously and illegally drawn up as a Chapter 7 BK for a SECURITIES DEALER and NOT a commodity brokerage as it should have been. Look, MF Global was the second-largest non-bank FCM in the United States next to NewEdge which is the old FIMAT. If MF Global wasn’t an FCM, then there are no FCMs. Of course it was an FCM. It had $7.2 billion in customer seg funds as of August 31, 2011. And yet MF Global was immediately, from the get-go, put into Chapter 7 BK as a SECURITIES FIRM. This is fraud. MF Global’s BK should have OBVIOUSLY been established under Subchapter IV of the Chapter 7 code as a COMMODITY BROKERAGE.

Why wasn’t this done? Because in a Subchapter IV liquidation of a commodity brokerage firm, guess who is absolutely and unequivocally at the front of the line? You guessed it: the CUSTOMERS. In the Chapter 7 liquidation of a securities firm, guess who goes to the front of the line? Uh-huh. The “creditors”, aka the counterparties on the firm’s proprietary positions. As in . . . J.P. Morgan, et al.

Now we know why this unprecedented action of raping the customers has happened. It was set up that way. Now are you telling me that NO ONE at the CFTC appreciated the difference between the BK subchapters? Are you honestly telling me that Terry Duffy and NO ONE at the CME understood the difference between a securities firm liquidation and a Subchapter IV commodities firm liquidation and the massive consequences to the customers? Not a single one of them understood this massive difference? Bullshit. Of course they knew. They set it up that way from day one. And they continue to know. And this fricking charade just keeps going and going, and the rape and confiscation of the customers’ property continues apace. The fix was in on the customers and J.P. Morgan was put at the front of the line willfully, intentionally and with extreme malice aforethought by all those parties concerned. Citation Hotlink here:

Click Here to read the ZeroHedge reportage.

And this is why I am now formally calling for the financial industry blogging community to officially push for and declare a general market strike. I call for all decent people of good will to withdraw ALL FUNDS from the financial markets and cease to trade in solidarity with the MF Global rape victims until such time as the MF Global BK is properly filed as a Subchapter IV commodity brokerage liquidation and their private property is FULLY RESTORED.

If this is how they’re going to play, I say let’s shut the whole damn thing down. Let’s show these rat bastards how we do things in the Civilized World. Molon Labe.

http://barnhardt.biz/


20 posted on 01/04/2012 6:46:57 PM PST by phockthis
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To: NotSoModerate
pretty much...
21 posted on 01/04/2012 7:11:44 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: reefdiver

“If Goldman Sachs went down the tubes tomorrow we all would be better off !”

If they had gone down in 1929 then we would be in a much better place today. You can thank these wall street bankers for bringing the country down time and time again. But this time they are going to bring it to its knees. I doubt that we will be getting up and returning to life as we know it.


22 posted on 01/04/2012 7:59:35 PM PST by Revel
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To: jimbo123

Its funny that the American taxpayer is paying for all of this corruption via things like tarp. And no one does anything except whine. These guys wont see a day in jail over this. Not a day.


23 posted on 01/04/2012 8:58:00 PM PST by ColdSteelTalon (Light is fading to shadow, and casting its shroud over all we have known...)
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To: jimbo123

Unfortunately, this probably adds to the necessity that Goldman Sachs keep the obama regime in power to protect its interests


24 posted on 01/04/2012 8:58:59 PM PST by silverleaf (Common sense is not so common- Voltaire)
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To: phockthis

I’m reading Ann Barnhardt every day. She is the only onw shouting the alarm from the rooftops. The financial markets in the U.S. are completely unstable,unreliable and untrustworthy as it has been proven there is no rule of law and customers segregated accounts can be taken over (stolen) with no prosecution. This is just grand theft on a humongous scale. It’s no worse than if a foreign country came and took over a section of the U.S. and just physically by force took over a few banks and all the money in them, and no one did anything about it.

I agree with her, it is crazy to be in the market right now!


25 posted on 01/04/2012 9:04:21 PM PST by boxlunch
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To: silverleaf

Coincidence?...most of these banksters are strong supporters of anti gun legislation.


26 posted on 01/05/2012 3:33:38 AM PST by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: jimbo123

And again, I hear crickets from our 5% approval republican congress. Yep, I said our republican congress...is it our fault for the 5%, NO, but if Boehner and company doesn’t dispell the 5% myth, then we will get blamed because to win in 2012, you have to not only defeat the candidate but defeat the MSM also, and he and they are NOT DOING THAT!


27 posted on 01/05/2012 9:19:59 AM PST by CincyRichieRich (Keep your head up and keep moving forward!)
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To: CincyRichieRich

Crickets from EVERYONE on this development on Goldman and MF Global.

Now we know why Goldman has donated so much money to Romney. It wasn’t just about Cap and Trade, but also about covering up Goldman’s roles in the looting of MF Global.


28 posted on 01/05/2012 9:26:54 AM PST by jimbo123
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