I’m in the die hard crowd. Had we allowed the process to work they would have declared bankruptcy. the court would have provided for administration of customer funds and creditors would have received their due. Instead between the GM and later MF Global debacles we have subverted the rules of contract and law and converted to a 100% pay to play mentality where the AG won’t even consider prosecution despite laws being broken.
What people don’t realize is that Wall Street gets all of the benefits of taking on risk, while being able to pass that risk off on the taxpayers.