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It's looking like outright theft at MF Global (MFGLQ.PK), where investigators believe some of...

  • Thursday, November 17, 2011, 5:01 PM ET
    It's looking like outright theft at MF Global (MFGLQ.PK), where investigators believe some of the customer accounts were raided to pay off losing bets, meaning the money isn't missing, it's gone. Like other brokers, MF was allowed to borrow customer cash if it put up collateral, but it appears the firm did not provide the necessary backing.
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This news story has 12 comments:

  •  
    canary in the coal mine for all the big trading desks...
    17 Nov 2011, 05:05 PM Reply Like
  •  
    Maybe we'll FINALLY get some high level perp walks.

    I doubt there will be any high level convictions, but at least we might get perp walks.
    17 Nov 2011, 05:16 PM Reply Like
  •  
    Big bonanza coming for the lawyers!
    17 Nov 2011, 05:07 PM Reply Like
  •  
    And Corzine was rumored to be the new Treasury Secretary - he would have fit right in!
    17 Nov 2011, 05:09 PM Reply Like
  •  
    Seize ALL of Corzine's assets IMMEDIATELY!
    17 Nov 2011, 05:12 PM Reply Like
  •  
    They need to drag Corzine around like they did Qaddafi, and he should be treated no better. This administration has bred a culture of corruption and someone needs to be made an example out of, Holder, Corzine, Immelt, Chu, Obama. One right after the other, a fair trial then serious jail time.
    17 Nov 2011, 05:31 PM Reply Like
  •  
    Don't limit it to this administration. This kind of corruption has been going on for decades. It's only become so prevalent and pervasive that they can't hide it anymore. The slow leak in the system is becoming a torrent.
    17 Nov 2011, 06:01 PM Reply Like
  •  
    This corrupt breed has been around much longer than this administration. But, all the SOB's need serious jail time.....
    17 Nov 2011, 09:21 PM Reply Like
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    Boy I feel better knowing the government has all these new regulations so this can't happen. Oh wait a minute they were already in place. Wow I'm shocked and dismayed. As far as Corzine going to jail. This is were the system really works. He's not going anywhere as long as the current administration is in power.
    17 Nov 2011, 06:33 PM Reply Like
  •  
    I am so glad that the american taxpayer bent over backwards to save the banks back in 08. It saved everything and got the banks back on their feet! Paulsen was right. So was Bernanke.

    sarcasm off. Do you think that if the rightful failures could have occurred back then that the crimes then, would have been revealed, criminals would have been found, tried and convicted, and the moral hazard likely would have stopped that MF-er Corzine from blatantly robbing his customers.

    The bailout was a failure and this is one of many pieces of evidence.
    17 Nov 2011, 09:11 PM Reply Like
  •  
    Obama did refer to Corzo the Clown as "Our Wall Street Guy." Nice!
    18 Nov 2011, 05:31 PM Reply Like
  •  
    Is that really your picture?
    18 Nov 2011, 05:34 PM Reply Like
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