MF Global has been in the news a lot.
"After a Delay, MF Global’s Missing Money Is Traced"
Money doesn't just disappear. It doesn't vaporize. It goes somewhere. I imagine there is always a paper or electronic trail to follow.
Why didn't anyone track down all the money that disappeared in 2008? Anyone still waiting? Did that money vaporize too?
Why did it fall on the backs of taxpayers and future generations to make good on all those empty bank accounts?
Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts to recover the cash and pursue potential wrongdoing, people briefed on the investigation said.
This sounds a lot like the inaction of 2008. Geithner helped create the mess, he is vital to unwinding it...
And, did we get out money back? Were all the little people, the little investors made whole? Maybe they're waiting for the collapse of the money,when a current dollar is worth what a penny was in 2008? After inflation makes those investments worthless?
Meanwhile, the Fed continues giving a way trillions to foreign banks, mystery people, nameless faceless folks that in their mind are more important than folks on Main Street? Main Street is only needed to pay back all that borrowed money? Cattle?
While authorities have traced hundreds of millions of dollars to banks, MF Global’s trading partners and even the firm’s securities customers, investigators remain uncertain about whether they can retrieve the money.
What is wrong with this picture?
At the center of the squabbling are e-mails sent by top executives at MF Global — communications that have been withheld from federal authorities, according to the people briefed on the matter. Investigators suspect the e-mails, sent just before the firm collapsed, contain clues about who transferred the money from protected customer accounts.
Just before they collapse someone was busy draining customer accounts and sending the money? Why? Theft?For some reason, Corzine has $500,000 to donate to Obama 2012?
And, no one wants to release the emails? Maybe they plan to wait until after Obama is re-elected?
...The clearinghouse may have passed on the money to MF Global’s trading partners, who would have rightful claims to money from MF Global. A major part of futures customer money also went to securities customers who were closing accounts in October.
I wonder how many had insider information? Ah...it's collapsing...you may want to get over here and take yours away...
read more here -
http://dealbook.nytimes.com/2012/01/31/mf-globals-missing-money-is-slowly-being-tracked-down/Looters? Are these people any different from the looters that rob the gold and treasure from museums? Leave death and devastation behind? They just do it with a computer transaction?
Where is the firewall to protect depositors?
Who decides who the winners and losers are?
Any chance real people will get a fair chance at prosperity after Corzine donates $500,000 to Obama's 2012 campaign?
Real people just keep getting stuck with the bill.
just my humble opinions