MF Global - Show Me The Money!
I'm listening to CBS 880 AM Radio, when I hear a very curious item issue forth.
MF Global seems to have "misplaced" over a BILLION DOLLARS of investors' funds.
A bit later on, the missing funds have "shrunk" to $600-700 million.
The issue at hand is that the firm failed to keep investors' funds segregated from the companies' funds. e firm filed for bankruptcy shortly before this came to light.
The recently passed Dodd-Frank regulations do not apply to MF Global, as it is a broker dealer, and not a bank holding company. Of course, one must question the wisdom of any of these financial industries not having to adhere to sound principles, especially after the level of malfeasance experienced.
Here's a cheat sheet of what the Dodd-Frank Consumer Protection Bill entails:
In case you're one of those wondering why Wall Street and like areas all around the world (yes - it's EVERYWHERE!) are still "occupied" - this is one of the reasons.
I'm fairly certain that many of you out there have not watched Charles Ferguson's excellent film, Inside Job. Matt Damon performs the narration, but you are doing yourselves a disservice by not seeing this film. Rent it; borrow it; set up a mass viewing with your friends. You won't be bored. This movie is MUST-SEE VIEWING for anyone who simply doesn't keep their money under their matresses.
Here's the article, which has a link to the trailer:
And no - Charles Ferguson hasn't paid me a thin dime to promote this movie; but I believe that YOU WILL, once you've seen it.
Former New Jersey Governor Jon Corzine is connected with this scandal, as he runs the firm.
Is it possible that we will see Jon Corzine perform the perp walk?
Let me, once again, repost Scott Olsen's contact information:
USMC Scott Olsen
1411 East 31st Street
Oakland, CA 94602
Related to this, it has been proffered that the officer who put Scott Olsen in his current condition is one Scott Bergstresser. Others have leaked information I don't believe is pertinent, but it does make a point.
In this day and age, don't think that you can get away with ANYTHING, and not suffer repercussions.
ACTIONS HAVE CONSEQUENCES.
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