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MF Global: they're getting bolder...

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OKDem08 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-17-11 02:54 AM
Original message
MF Global: they're getting bolder...
Short read: MF Global, a large derivatives trader, declared bankruptcy recently but not before distributing bonuses to a select few shortly before bankruptcy papers were filed. Then shortly after the bankruptcy filing, regulators were notified via e-mail that ~$600 million was missing from customers' accounts.

http://blogs.wsj.com/deals/2011/11/11/read-mf-globals-first-money-is-missing-email/?mod=wsj_share_twitter

Source re: bonuses

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8875239/MF-Global-paid-bonuses-just-hours-before-bankruptcy.html
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WildNovember Donating Member (726 posts) Send PM | Profile | Ignore Thu Nov-17-11 03:03 AM
Response to Original message
1. Thieves. If money is missing from customers, how can they give officers BONUSES?
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saras Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-17-11 03:09 AM
Response to Reply #1
2. You answered your own question.
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Suich Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-17-11 03:27 AM
Response to Reply #1
3. Welcome to DU, WildNovember!!
Hope you have fun here!

:party: :party: :party:
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RainDog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-17-11 03:32 AM
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4. this is where the OWS protest should be n/t
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