Under who’s name??
Okaaaay.....
I still can’t believe the slapdash way that both MFG and JEF can’t get their stories straight and keep issuing clarifications and updates.
One lesson from all of this is a reminder to never, never, ever put all your money into one institution.
Sing the Chorus “Someonesszz goinggn to prissssonnnn!!!”
Hey, that money is mine. Dick Obama said he wanted to spread the wealth and he told me I could have it. If he denies he said it, he’s harassing me! And he’s discriminating. My attorney, Mr. Joel Bennett, is going to make sure I get my money.
The question isn’t whether JP Morgan has the money, but under what pretenses it was given to them (assuming of course that they have it). If it was given as collateral for bond positions, well, it was segregated funds that MF Global had no right to give. I don’t know what happens if that’s the case, but bankruptcy proceedings and criminal investigation of MF Global are a good place to start.
I’m guessing they got a really nice toaster for opening that account.
Who is MORE important? Some clients at MF Global or JPM? Redistribution of wealth, again.