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MF Global + JP Morgan = Banksters Heaven


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2011 Dec 13, 8:35pm   4,401 views  1 comment

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Gentle Readers,
I'm sure I don't understand this MF Global thingy. I've just read:
1) that the MF Global customer accounts were deposited at JP Morgan. No, I don't know what section or type of account.
2) that JP Morgan appears to have used those protected Customer accounts to cover a margin call on MFG. Who authorized this?
3) that unless there was an intent to defraud, the Customer money will not be repaid by JP Morgan or MF Global except as just another debtor in the bankruptcy liquidation.

In all fairness, no one knows who authorized the Customer money transferred to cover MF Global's margin call - yet. Apparently the margin call was due to the higher risk of the Euro trade that MF Global was involved in. In any case, it doesn't appear that perp walks and jail time or even Customers made whole are on the menu.

It just... They can't... What?!?

Roidy
P.S. Jeff Mackie, if you are out there, yes 'Virginia' the game is rigged. I've known that since 2005. Wake up!

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1   anonymous   2012 Jan 23, 9:32am  

APOCALYPSEFUCK is Tony Manero says

The percussionist executes a very clean open roll but the rest of the sonic emissions from this ensemble resembles the sounds of farm animals being nailed to telephone poles.

Gentle Readers,
I disagree with this statement. It should read "...sounds of FLATULENT farm animals being nailed to telephone poles."

Regards,
Roidy
P.S. Fuck you! You Wall Street assholes! Go swim in the septic tank that is your life.

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