Tuesday, 10 July 2012

MF Global II just hit................from Rico

MF Global II just hit.
- It's called PFG Best (a US futures brokerage).

You remember MF Global, right? Customer segregated accounts were "vaporized" (stolen) in Nov 2011.
- Jon Corzine, former New Jersey Gov, Former Senator (D), and primary Obama money 'bundler' still walks free.
- The CFTC, SEC, CME, and all God's French Cousins swore this would NEVER happen again!

7 months later.
- PFG Best, of Cedar Falls, Iowa (whose FX accounts were handled ...surprise....by the huge MF Global fan JP Morgan, and whom in Jan 2012 the CFTC "did not find any material breaches of customer funds protection requirements") has apparently "vaporized" [read: pillaged] ~$220 million of segregated customer account funds a la' Corzine. I guess Jamie Dimon of JPM just 'found' some extra profits for his bottom line.

Ann Barnhardt - who closed her Barnhardt Capital Management commodity brokerage Nov 2011 ('because her clients monies and positions were not safe in the markets' re: the segregation of customer funds) - was right. Again!

The theft and blatant fraud, the repayment of 'favors' by the present 'regime' to its supporters, is both flagrant and fragrant.

- The stench of something rotten does NOT emanate from Denmark (apologies to the Bard), but once again from Washington, DC.

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