Posted on 01/30/2013 10:36:12 AM PST by rpierce
MF Global’s Bankruptcy Nears a Happy Conclusion
When Mahesh Desai checked his MF Global account 15 months ago, his $580,000 nest egg was gone.
Like thousands of investors and farmers who had their savings with MF Global, Mr. Desai lost his money in the brokerage firm’s chaotic final days. Regulators discovered that $1.6 billion was trapped in a web of improper wire transfers, a stunning breach that sent federal investigators scrambling to build a case.
On Thursday, a bankruptcy court will review a proposal that would return 93 percent of the missing money to customers like Mr. Desai...
(Excerpt) Read more at dealbook.nytimes.com ...
The 7% loss was loss of customers money. (I read earlier that the customer loss was about 20%. Including those who had numbered gold bullion stored in their facility.)
The investors lost 100% of their money as I understand it.
Royalty doesn’t go to jail; they only have to worry about Romanian term limits.
Where IS that MF’er Corzine anyway?
I’d love to have Ann Barnhardt’s take on this latest.
I hope her utterance comes back to flatten her and the rest of the elite(sarc)like a steamroller. But, for now little flicks to the side of head would be just fine.
Yeah, that was one of my thoughts too after reading all this. Pinging Ann Barnhardt!
With Lanny Breuer retiring the perp walks of the financial execs may finally begin, including Corzine.
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