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Regulators are investigating whether MF Global (MF) diverted as much as $700M from segregated...

  • Monday, October 31, 2011, 7:55 PM ET
    Regulators are investigating whether MF Global (MF) diverted as much as $700M from segregated customer accounts to support its trades as the company teetered, according to sources. A major no-no, it's possible this is what nixed a desperate effort by MF to sell itself to Interactive Brokers (IBKR). (SEC/CFTC statement)
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This news story has 11 comments:

  •  
    It'll be pinstripes I guess.
    31 Oct 2011, 08:01 PM Reply Like
  •  
    Looks like it -- he made the same mistake Madoff did: he stole from rich people, which is the REAL major no-no.
    1 Nov 2011, 06:56 AM Reply Like
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    It is just hard to believe that someone who ran Goldmans Sachs, and then was a pillar of our government, could have been involved in such massive fraud.

    Oh, wait......

    Never mind!

    I just had a flash....John Corzine and Bernie Madoff living out their last days cheating each other at the prison card game......

    Sometimes there is justice.
    31 Oct 2011, 08:06 PM Reply Like
  •  
    "Sometimes there is justice"

    This will test his connections. There may be some missing paperwork that will prevent a case against him.
    31 Oct 2011, 08:24 PM Reply Like
  •  
    This is in some ways the end of the end of the old era - basically the final book mark, for a while, on using leverage to make a fortune with other people's money. For the last 30 years it has been 'the trade' - load up on ever increasing leverage to make yourself enough money to check out - using other people's capital as your lottery ticket. Everyone has been doing it - governments included.

    It is absolutely, unequivalently over. If a Goldman ex CEO, US Senator and State Governor is trying to do it with other people's money - why would anyone, thrust anyone with their money.

    Put him in jail.
    31 Oct 2011, 08:44 PM Reply Like
  •  
    Corzine should be prosecuted.
    31 Oct 2011, 09:03 PM Reply Like
  •  
    Waiting for the OWS response....
    31 Oct 2011, 10:03 PM Reply Like
  •  
    Customer segregated funds - the holy of hollies has been breached.
    The problem is that the temple has been left in the hands of non-believers.
    Soros, Buffet, Gates, Corzine, Madoff, Frank Dowd, Rubin, and lets not forget the Judas Greenspan who believed but betrayed.
    Just because men are brilliant, hard working and charismatic does not mean that they believe in or understand the system that has made them rich. To the contrary whether it is guilt, or hubris all but a few don't care about free markets, and in fact hate them. They would love to just pull the ladder up behind them as they climb the mountain of plenty that freedom has brought them.
    1 Nov 2011, 01:44 AM Reply Like
  •  
    I wonder what company/governor's mansion/senate seat Corzine will get to stink up next? He should be in jail, but don't hold your breath waiting on that to happen.
    1 Nov 2011, 06:06 AM Reply Like
  •  
    to think that just a few months ago, Corzine was touted as a replacement for Geithner...

    also, this is another reminder why you never, never, ever, put all your money into one institution... segregated or not...
    1 Nov 2011, 11:48 AM Reply Like
  •  
    "to think that just a few months ago, Corzine was touted as a replacement for Geithner..."

    What makes you think he's out of the running? After all Timmy blamed his tax troubles on a computer and all was forgiven. Corzine will probably do the same.
    1 Nov 2011, 05:56 PM Reply Like
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