Posted on 07/09/2012 5:24:26 PM PDT by Stentor
Remember when the entire segregated account fiasco was supposedly fixed in the aftermath of the November 2011 MF Global bankruptcy, and where regulators: the CFTC, the SEC, the CME, and anyone you asked, swore up and down this would never happen again? Turns out that 7 months later, the spirit of MFG has struck again, only this time with one letter switched: it is now known as PFG, as we suggested first 3 hours ago when we broke the story.
(Excerpt) Read more at zerohedge.com ...
You speak gibberish.
I do not not your words ( CFTC, SEC, CME, MFG ) which is not familiar words.
Could you speak clear understandable English?
If not English then Spanish Swedish or even German so I could understand your gibberish.
You speak gibberish.
I do not understand your words ( CFTC, SEC, CME, MFG ) which are not familiar words in my lexicon.
Could you speak clear understandable English?
If not English then Spanish Swedish or even German so I could understand your gibberish.
Urinate up a rope. Clear?
CFTC NO CLUE
CFTC=Commodities Futures Trading Commission - maybe?
From the articles I have read the amount of “missing” customer money is more than $400 million.
MFG = Mann Financial Global. Mann Financial was a small commodities broker that for more than 100 years catered to farmers and others to find their wealth in the futures markets. Corzine was installed as CEO after he lost his bid for a second term as NJ governor. He took the firms money, bet big, lost the bet and STOLE the depositors money to pay off the leverage. Corzine walks the streets today.
This was a once in a lifetime event and under the current regulations could never happen again.
Well, it just did.
This is just down the road, should be “interesting”.
This is the type of stuff that goes on in a banana republic.
You are correct.
Let’s see if JPM’s profits for last quarter suddenly take a $220m turn toward the black.
Are there any connections between Wasendorf, Tony Rezko, or the indicted Illinois Governor?
Time will tell.
But for a firm that was allegedly started in a “basement” the fact that Wasendorf’s firm, Peregrine, sues all of his clients that his company loses money on behalf, is surely a clue to be aware of that these guys are no different than many of the others that have lost the public trust.
Which other companies, people, and politicians are next in line to be found liable in this unbelievable Chicago corruption?
Continue reading at NowPublic.com: Does PFGBest have ties to Illinois Gov’s Corruption Scandal? | NowPublic News Coverage http://www.nowpublic.com/tech-biz/does-pfgbest-have-ties-illinois-govs-corruption-scandal#ixzz20BNGaxwW
Like, *PING*, dudes.
UH-OH: $220 Million May Be Missing From Brokerage Whose CEO Reportedly Tried To Commit Suicide
Or a nice silver delivery to their alleged COMEX stash.
Staffed mostly by political cronies and chair-polishing pencil pushers, the CFTC have failed utterly in the principal missions as defined by law: protecting the capital of traders and preventing mkt manipulation.
1. The poster is not the author of the article
2. FR has lots of articles with technical jargon posted.
3. We don’t want every article posted to be dumbed down to the lexicon of the typical layman.
LOL !
Thanks. I almost never post but this story is about the center of the abscess that is our financial system.
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