DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - MF Global Ripple Effect & Crash of 2011 - Why not Spend $630 Million to Bail Them Out

**primaveraloler** · 11-17-2011, 09:09 PM

MF Global was the commodities brokerage that came up short $630 Million and then went Bankrupt.

It looks like the CME & JPMorgue were business partners of theirs.

Also, MF Global was run by Jon Corzine, former Gov. of New Jersey and also a former Goldman Sachs exec.

Obviously, a well connected man.

He even cried a few crocodile tears and mentioned how "bad he felt" about the MF Global Bankruptcy.

Given that the US Gov. has spent many $Trillions propping up the world banking system, WHY ON EARTH didn't they slip a few hundred $Million to MF Global ? That's a ROUNDING ERROR on the US Gov's financial statements.

It looks like the MF Global bankruptcy is having some major ripple effects, so that it's reasonable to ask - are they the Lehman Brothers of 2011 ? (The Domino that when it falls takes the other dominoes with it).

One commodity brokerage has shut down voluntarily because the MF Global incident has made it clear to them that the CME & CFTC are broken -
http://www.zerohedge.com/news/entire...lobal-casualty

"Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator."

So what I am wondering is, is this a deliberate collapse that is being initiated ?

11-17-2011, 09:09 PM	#1
primaveraloler Join Date Oct 2005 Posts 568 Senior Member	MF Global Ripple Effect & Crash of 2011 - Why not Spend $630 Million to Bail Them Out MF Global was the commodities brokerage that came up short $630 Million and then went Bankrupt. It looks like the CME & JPMorgue were business partners of theirs. Also, MF Global was run by Jon Corzine, former Gov. of New Jersey and also a former Goldman Sachs exec. Obviously, a well connected man. He even cried a few crocodile tears and mentioned how "bad he felt" about the MF Global Bankruptcy. Given that the US Gov. has spent many $Trillions propping up the world banking system, WHY ON EARTH didn't they slip a few hundred $Million to MF Global ? That's a ROUNDING ERROR on the US Gov's financial statements. It looks like the MF Global bankruptcy is having some major ripple effects, so that it's reasonable to ask - are they the Lehman Brothers of 2011 ? (The Domino that when it falls takes the other dominoes with it). One commodity brokerage has shut down voluntarily because the MF Global incident has made it clear to them that the CME & CFTC are broken - http://www.zerohedge.com/news/entire...lobal-casualty "Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management, It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator." So what I am wondering is, is this a deliberate collapse that is being initiated ?
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