What the heck? Where did the money go and how did regulators miss this. \u00a0 Heads need to role and the CFTC needs to make an example here. This is too serious of a situation for it to go without punishment as well as answers to how it is even possible to of occurred.<\/p>\n
From Bloomberg:<\/p>\n
MF Global Inc. \u2018s shortfall in U.S. segregated customer accounts may exceed $1.2 billion, said the trustee overseeing a liquidation of the failed brokerage run by former New Jersey Governor Jon Corzine. James Giddens, the trustee, said today that distributing 60 percent of what should have been in customers\u2018 accounts will take $1.3 billion to $1.6 billion, or almost all of the assets he has within his control. While he expects the transfer will occur in early December, he doesn\u2018t have access to funds beyond $1.6 billion, Giddens said in a statement. A shortfall of $593 million, or 11 percent of customer funds, had been previously estimated by a person with knowledge of probes of the firm\u2018s collapse. Giddens said today that forensic accountants and investigators are working \u201caround the clock,\u201d\u009d and the shortfall estimate may change.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
What the heck? Where did the money go and how did regulators miss this. \u00a0 Heads need to role and the CFTC needs to make an example here. This is too serious of a situation for it to go without punishment as well as<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12],"tags":[358],"class_list":["post-16632","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","tag-martkets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/16632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=16632"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/16632\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=16632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=16632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=16632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}