Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

MF Global’s Bankruptcy Nears a Happy Conclusion (lol)
The New York Times ^ | 1/29/2013 | BEN PROTESS

Posted on 01/30/2013 10:36:12 AM PST by rpierce

MF Global’s Bankruptcy Nears a Happy Conclusion

When Mahesh Desai checked his MF Global account 15 months ago, his $580,000 nest egg was gone.

Like thousands of investors and farmers who had their savings with MF Global, Mr. Desai lost his money in the brokerage firm’s chaotic final days. Regulators discovered that $1.6 billion was trapped in a web of improper wire transfers, a stunning breach that sent federal investigators scrambling to build a case.

On Thursday, a bankruptcy court will review a proposal that would return 93 percent of the missing money to customers like Mr. Desai...

(Excerpt) Read more at dealbook.nytimes.com ...


TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: joncorzine; mfglobal
Navigation: use the links below to view more comments.
first previous 1-2021-27 last
To: proudpapa

The 7% loss was loss of customers money. (I read earlier that the customer loss was about 20%. Including those who had numbered gold bullion stored in their facility.)

The investors lost 100% of their money as I understand it.


21 posted on 01/30/2013 11:28:36 AM PST by Texas Fossil
[ Post Reply | Private Reply | To 13 | View Replies]

To: Eric in the Ozarks

Royalty doesn’t go to jail; they only have to worry about Romanian term limits.


22 posted on 01/30/2013 11:45:53 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: rpierce

Where IS that MF’er Corzine anyway?


23 posted on 01/30/2013 11:52:19 AM PST by crosshairs (All we are saying, is give a high cap piece a chance.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rpierce

I’d love to have Ann Barnhardt’s take on this latest.


24 posted on 01/30/2013 12:15:45 PM PST by FreedomPoster (Islam delenda est)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rpierce

I hope her utterance comes back to flatten her and the rest of the elite(sarc)like a steamroller. But, for now little flicks to the side of head would be just fine.


25 posted on 01/30/2013 1:02:23 PM PST by free from tyranny
[ Post Reply | Private Reply | To 16 | View Replies]

To: FreedomPoster

Yeah, that was one of my thoughts too after reading all this. Pinging Ann Barnhardt!


26 posted on 01/30/2013 1:04:12 PM PST by rpierce (We have taglines now? :)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Eric in the Ozarks

With Lanny Breuer retiring the perp walks of the financial execs may finally begin, including Corzine.


27 posted on 01/30/2013 1:13:24 PM PST by Hotlanta Mike ("Governing a great natiorn is like cooking a small fish - too much handling will spoil it." Lao Tzu)
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-27 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson