Casino67 Posted November 1, 2011 Share Posted November 1, 2011 WSJ:The fallout from MF Global Holdings Ltd.'s collapse intensified as the Commodity Futures Trading Commission voted to issue subpoenas to the securities firm and the Federal Bureau of Investigation planned to examine whether client funds are missing, according to people familiar with the situation.The two moves are the result of a discrepancy of hundreds of millions of dollars in the New York company's books that was discovered just before MF Global tumbled into bankruptcy Monday, according to people familiar with the matter.It isn't clear if the discrepancy, about $900 million as MF Global raced to sell itself over the weekend, was caused by money being diverted by company officials desperate to meet margin requirements or collateral calls as the financial situation became dire, these people said. Another possibility is that the gap reflects bookkeeping or accounting errors, as well as a delay in recording transactions in MF Global's books given the securities firm's far-flung trading and clearing operations.At a bankruptcy-court hearing Tuesday, Bradley Abelow, MF Global's president and operations chief, declined to comment on reports about diverted customer funds. A lawyer for MF Global said: "To the best knowledge of management, there is no shortfall." He said the discrepancy largely is the result of money stranded by banks and clearinghouses. Link to comment Share on other sites More sharing options...
RandyM Posted November 2, 2011 Share Posted November 2, 2011 He said the discrepancy largely is the result of money stranded by banks and clearinghouses. ... and I have some oceanfront property in Arizona for sale. Link to comment Share on other sites More sharing options...
clearvision Posted November 2, 2011 Share Posted November 2, 2011 He said the discrepancy largely is the result of money stranded by banks and clearinghouses. ... and I have some oceanfront property in Arizona for sale. Damn, we have a global warming climate change believer here.... Link to comment Share on other sites More sharing options...
RandyM Posted November 2, 2011 Share Posted November 2, 2011 He said the discrepancy largely is the result of money stranded by banks and clearinghouses. ... and I have some oceanfront property in Arizona for sale. Damn, we have a global warming climate change believer here.... Link to comment Share on other sites More sharing options...
clearvision Posted November 2, 2011 Share Posted November 2, 2011 What comes after 1990? Link to comment Share on other sites More sharing options...
RandyM Posted November 2, 2011 Share Posted November 2, 2011 Link to comment Share on other sites More sharing options...
clearvision Posted November 2, 2011 Share Posted November 2, 2011 WARNING MAJOR THREAD HIJACK CONTINUES! 2012? Link to comment Share on other sites More sharing options...
nickydog Posted November 2, 2011 Share Posted November 2, 2011 Link to comment Share on other sites More sharing options...
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