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

To: OhhTee5

They bought stuff on margin and the value declined making it necessary to come up with cash to cover the margin call. They ran out of their own cash and dipped into the cash in customer accounts. That is, they co mingled customer funds on account with the trading funds. More margin calls, more cash needed etc.

The practice is like the government dipping into the SS trust to co mingle the SS funds with those on General Fund Account.

They were betting on the come. The come never came

Finally the jig was up. They no longer could cover their losses. it was over. All the money is gone


9 posted on 12/13/2011 8:02:51 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
[ Post Reply | Private Reply | To 5 | View Replies ]


To: bert

That is exactly what happened. Corzine looks like the liar that he is here.

String him up.


23 posted on 12/13/2011 9:41:57 AM PST by dforest
[ Post Reply | Private Reply | To 9 | View Replies ]

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