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Author Topic: MF Global Looted Celente's/Other Customers' Accounts Via Internal Bank Run  (Read 14198 times)
2Revolutions
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For we wrestle not with flesh and blood


« Reply #80 on: February 08, 2012, 06:02:28 AM »

http://www.washingtonpost.com/business/economy/trustee-says-mf-global-sustained-itself-on-customer-funds/2012/02/06/gIQAHFQCvQ_story.html

As MF Global careened toward bankruptcy in October, the brokerage firm used customer funds to bankroll its business, apparently assuming that the money would be put back by the end of each day, a trustee overseeing the firm’s liquidation reported Monday.

In a frenzy of trading, much of the money flowed through MF Global’s banks and was scattered among recipients such as banks, exchanges, MF Global affiliates and counterparties to trades, the trustee said.

Corzine tried to turn the firm around by placing big bets on European debt, and he has defended those investments in testimony to Congress. But Giddens said those trades contributed to the drain on MF Global’s resources by triggering margin calls.

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Those who wish to remain ignorant and free, in a state of civilization, want what never was and what never will be.  - Thomas Jefferson
kerrymti
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The truth will set us free..and..open their eyes.


« Reply #81 on: February 09, 2012, 04:29:38 PM »

Question:  Do you think Corzine will ever be brought to justice?
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