Tag: brokers

Grieving for Glass-Steagall

Grieving for Glass-Steagall

Glass-Steagall is dead. Rather like Soviet-era Communist leaders, it has been officially dead since 1999, and actually dead for much longer. Though there was no state funeral, the body was not embalmed or put on display and few people mourned its passing.

Smoking Gun at MF Global

Smoking Gun at MF Global

Bloomberg News allegedly has an e-mail demonstrating that Jon Corzine, MF Global’s CEO, gave “direct instructions” to his underlings to transfer $200 million from one customer account to another account in order to meet an overdraft in one of the company’s JPMorgan Chase London accounts

Those MF Global MFs!

Those MF Global MFs!

We have a good friend with money tied up in the MF Global debacle. As of November 1st, he had close to $100K in his “segregated” futures account with no open positions. He says the MF Global website is shut down and the phones don’t ring when he calls. This guy was a “big swinging Richard” at one of Wall Street’s biggest firms and now trades his own account.

Here is his letter of rebuke to MF Global, which he passed on to us. Can you tell he is a little peeved?