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Monday, October 31, 2011

MF Global Chapter 11

From IPO to BK in 4 Years

Is MF Global really "global"?

Here's a story for OCCUPY WALL STREET: 

2,900 jobs in peril!  CEO Jon Corzine will walk away with $11 MILLION.  Go capitalism! 

Has anyone noticed this MF Global (MF) is going Chapter 11?  Looks like global debt is spreading it's tentacles.  What happened?
ANSWER:  Jon Corzine a former CEO of Goldman Sachs took over the company and got it into trouble.  He will walk away with a nice bonus of $11,000,000 I hear.  These guys know how to cash in on bankruptcies: 
http://www.marketwatch.com/story/mf-global-from-bad-to-worse-2011-10-31?siteid=rss&rss=1 


http://finance.yahoo.com/news/Insight-Did-Corzines-risk-rb-2586108563.html?x=0&.v=1

http://www.bloomberg.com/news/2011-10-30/corzine-s-mf-global-faces-pivotal-days-as-firm-considers-sale-bankruptcy.html?cmpid=yhoo



UPDATE: 
New York Federal Reserve suspends MF Global from conducting new business for not meeting mimium capital criteria of $150 MILLION:  Sounds like more Wall Street corruption shaking out: http://www.marketwatch.com/story/new-york-fed-suspends-operations-with-mf-global-2011-10-31?dist=beforebell



Here's a good reason to stay clear of GOLD and SILVER as these commentators from MF Global have been saying, "Keep stackin..."
So it looks like they have all been on the wrong side of the trades and even kicked off the floor of the CME today.  How about that?  Beware of the market crash ahead and it's going to be BIG TIME!  Something like DJIA 5,000 or lower at least.

Here's an MF Global recent metals update by Jim Comiskey:


...developing...

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