When are posters like you going to understand the truth about MF Global??
They STOLE their client’s money, the clients DID NOT INVEST their money with MF Global. The clients held positions in futures contracts along with cash. MF Global used THE CLIENT’S MONEY without asking.
This isn’t like Madoff where people give him their money to invest!!!!!!!!!!
Sheesh, still have to point this out! Read for crying out loud!
What really irks me is the “clawback” clause. That’s where the liquidators can go back and sue clients who made withdrawals before the fund collapsed (not sure on the time frame...a week?, a month?).
I could understand if someone had “insider information” or was manipulating the market, but what if someone was just completely innocent, lucky, closing out an estate, moving to a new fund, saw long term data which convince him/her to reposition their funds or was just making scheduled withdrawals? They get screwed!!!!