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Reuters Securities Law: "MF Global and the great Wall St re-hypothecation scandal."


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Reuters Securities Law: "MF Global and the great Wall St re-hypothecation scandal."

 
maxplanck
Chicago IL
 
Posts: 19 since Sep 2011
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MF Global and the great Wall St re-hypothecation scandal

What would you consider to be a safe broker, given the above?

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maxplanck
Chicago IL
 
Posts: 19 since Sep 2011
Thanks Given: 12
Thanks Received: 4


"With weak collateral rules and a level of leverage that would make Archimedes tremble, firms have been piling into re-hypothecation activity with startling abandon. A review of filings reveals a staggering level of activity in what may be the world’s largest ever credit bubble.

Engaging in hyper-hypothecation have been Goldman Sachs ($28.17 billion re-hypothecated in 2011), Canadian Imperial Bank of Commerce (re-pledged $72 billion in client assets), Royal Bank of Canada (re-pledged $53.8 billion of $126.7 billion available for re-pledging), Oppenheimer Holdings ($15.3 million), Credit Suisse (CHF 332 billion), Knight Capital Group ($1.17 billion),Interactive Brokers ($14.5 billion), Wells Fargo ($19.6 billion), JP Morgan($546.2 billion) and Morgan Stanley ($410 billion)."

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Last Updated on December 11, 2011


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