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MF Global situation
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MF Global situation

  #81 (permalink)
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MF Global lost money found?

MF Global Missing Money Mostly Found

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  #82 (permalink)
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MF’s $310M Margin Call Exceeded Market Value

MF?s $310M Margin Call Exceeded Market Value - Bloomberg

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
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  #83 (permalink)
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recent developments


MF Global: Mark Melin Interviews Haar And Koutoulas On What Really Happened | Phil?s Stock World

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  #84 (permalink)
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MF GLobal UK Creditors

Any of the members of Big Mike's on this list?

http://www.kpmg.com/UK/en/IssuesAndInsights/ArticlesPublications/Documents/PDF/A...ed_Company_Creditors.pdf

I would not like to have my private address published that way.

Bank Of America lost GBP 1.65

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  #85 (permalink)
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Source: How Is Jon Corzine Doing? Ask Him Yourself | ZeroHedge


Quoting 
The "Honorable" Jon Corzine may have prudently disappeared form the face of the earth, but that doesn't mean he is not accessible. In fact, in the parlance of our Bloomberg times, he is "Green" and anyone out there with a terminal can have a live Q&A with the former head of MF Global and Goldman Sachs.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #86 (permalink)
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No Criminal Case Is Likely in Loss at MF Global - NYTimes.com

it's good to be king...


highlights -

without charges expected against any top executives.

criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear

Authorities hope that Mr. Corzine, who is expected to accept the invitation, will shed light on the actions of other employees at MF Global.

Those developments indicate that federal prosecutors do not expect to file criminal charges against the former New Jersey governor.

Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund

As the government’s focus shifts away from Mr. Corzine, it remains interested in a lower-level employee in the firm’s Chicago office

While Mr. Corzine also testified that he never authorized or intended to authorize the misuse of customer money

But a $6.3 billion wager on the European sovereign debt proved fatal. The size of the bet was enough to wipe out the firm many times over, and as questions about Europe’s health grew, a run on MF Global ensued.

“Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.” - Dr. Seuss
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  #87 (permalink)
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Jon Corzine Is Considering Starting A Hedge Fund - Business Insider


I think if someone would tell Corzine to "go low key" he would answer "Key West, for sure...driving or flying?"

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Last edited by mattz; August 17th, 2012 at 12:01 PM.
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  #88 (permalink)
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A great recap on current situation at MFG



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #89 (permalink)
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Big Mike View Post
A great recap on current situation at MFG



Mike

James Koutoulas is saying that Corzine will end up in an orange jumpsuit. I sure hope he is right.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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If you want
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  #90 (permalink)
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Quoting 
WASHINGTON (Reuters)—U.S. authorities investigating the collapse of MF Global have called in former executives of the failed commodities brokerage in recent weeks for additional interviews, people familiar with the inquiry said, as regulators work towards filing civil charges.
The new interviews follow a meeting prosecutors and regulators had last month with the firm's former chief executive, Jon Corzine, and suggest investigators have new information they want to ask other officials about.

The new push comes close to the one-year anniversary of the firm's spectacular collapse, which left an estimated $1.6 billion in customer funds missing.

The company filed for bankruptcy on Oct. 31, 2011, after investors fled following revelations of heavy bets it made on European sovereign debt and the resulting credit downgrades. Investigators have said that the firm appeared to have dipped into customer funds as it desperately shifted money to cope with its liquidity crisis. Neither the firm nor its executives have been formally charged with wrongdoing.

The recent interviews included both the Justice Department and the Commodity Futures Trading Commission, but it still appears the more likely outcome will be civil cases rather than any criminal charges, people familiar with the inquiry said.

Reuters reported last month prosecutors are close to wrapping up a criminal inquiry and are unlikely to file criminal charges.

It is not clear which executives have returned for the latest round of interviews. Investigators do not appear to be seeking sworn testimony yet, a common step before preparing to file civil charges, which indicates such charges could still be months away.

Representatives of the U.S. Attorney's office in Manhattan and the CFTC declined comment.

A remaining question in the criminal inquiry is whether authorities will provide prosecutorial immunity to MF Global assistant treasurer Edith O'Brien, a central figure in approving the fund transfers that ultimately led to the shortfall. Investigators have not yet spoken to Ms. O'Brien, who invoked her Fifth Amendment right against self incrimination during a March congressional hearing.

Mr. Corzine testified multiple times before Congressional committees, and has specifically named Ms. O'Brien as someone who gave him assurances that fund transfers were proper.

Continuing Litigation

In addition to the regulatory and law enforcement authorities, the bankruptcy trustee working to unwind MF Global's broker-dealer unit has conducted his own investigation.

James Giddens issued a blistering 275-page report in June that criticized Mr. Corzine for failing to address MF Global's growing liquidity needs as he tried to build the commodities broker into a global investment powerhouse. Mr. Giddens has agreed to cooperate with customers in lawsuits against Mr. Corzine and other former MF Global executives.

He has also initiated litigation in the U.K. to secure another $700 million in funds that are stuck there, after having already returned about $4.7 billion to former commodities customers.

"Our formal investigation ended in June. We continue to use the results to further maximize the return of assets to customers and other creditors," Kent Jarrell, a spokesman for the trustee, said.

A Congressional panel, the House Financial Services subcommittee on oversight and investigations, also continues to investigate the firm's collapse and is expected to release a report of its findings in the coming weeks.

"My goal is to ensure that we don't have another breach of customer trust like this one, so our report will focus on the regulatory and compliance failures that led to MF Global's collapse," Rep. Randy Neugebauer (R-Texas), who chairs the subcommittee, said in a statement to Reuters.

By Aruna Viswanatha

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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