Hope for MF Global Clients - The Wall Street Journal | MartinKronicle - Michael Martin
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Too Little, Too Late

Even if clients get 100% of their margin back, many managers and hedgers alike are already out of business because their margin balances were unavailable.

It’s doubtful if the smaller CTAs will be able to recover from this.

We not only need a central clearing place for all futures and derivatives, but we need a centralized custodian for the margin balances too.

I thought you would be interested in the following story from The Wall Street Journal.

Hope for MF Global Clients

 

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  • Beijingperspective

    Michael, you forgot we also need  Corzine in handcuffs as well, so the next scumbag has a 30 year prison term to think about before he goes and mess around with clients funds.

  • martinkronicle

    Agree and disagree.

    1) Agree: he is a giant Scumbag.

    2) Disagree: 30 years is not enough for Corzine, Stanford, Phillip Bennett, nor Russell Wasendorf Sr.

    Hang them all I say. Publicly. In Times Square…