Page 1 of 2 12 LastLast
Results 1 to 15 of 17

Thread: MF Global

  1. #1
    All-Star
    Points: 14,457, Level: 36
    Level completed: 51%, Points required for next Level: 393
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Sep 2007
    Posts
    1,038
    Points
    14,457
    Level
    36
    Thumbs Up
    Received: 11
    Given: 2

    MF Global

    Hope we didn't have any family members caught up in the latest financial mess....



  2. #2
    Pro
    Points: 60,436, Level: 76
    Level completed: 25%, Points required for next Level: 1,214
    Overall activity: 0%
    Achievements:
    Created Album pictures50000 Experience PointsVeteranSocial
    geburgess's Avatar
    Join Date
    Jan 2010
    Location
    WDSM, IA
    Posts
    2,382
    Points
    60,436
    Level
    76
    Thumbs Up
    Received: 1
    Given: 0

    Re: MF Global

    For those who don't know: Regulators Investigating MF Global for Missing Money - NYTimes.com

    This looks to be nasty... Can't just make ~$700 million disappear.


    Keepers of the Faith -- The Unknown



  3. #3
    Starter
    Points: 18,624, Level: 41
    Level completed: 64%, Points required for next Level: 326
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Nov 2006
    Location
    Lakewood Ranch, FL
    Posts
    724
    Points
    18,624
    Level
    41
    Thumbs Up
    Received: 2
    Given: 6

    Re: MF Global

    You can make $700 million disappear real fast if you take the wrong postion on Greek bonds!



  4. #4
    Addict
    Points: 95,964, Level: 96
    Level completed: 46%, Points required for next Level: 1,086
    Overall activity: 5.0%
    Achievements:
    Veteran50000 Experience Points
    acgclone's Avatar
    Join Date
    Feb 2007
    Posts
    6,794
    Points
    95,964
    Level
    96
    Thumbs Up
    Received: 323
    Given: 58

    Re: MF Global

    Greece led to MF Global collapsing. We will see which other US firms are in trouble when Italy, Spain and Portugal go belly up. This Euro zone mess will not end well.



  5. #5
    Recruit
    Points: 10,358, Level: 30
    Level completed: 68%, Points required for next Level: 192
    Overall activity: 1.0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Apr 2006
    Posts
    101
    Points
    10,358
    Level
    30
    Thumbs Up
    Received: 1
    Given: 0

    Re: MF Global

    Quote Originally Posted by MilehighClone View Post
    Hope we didn't have any family members caught up in the latest financial mess....
    Corzine 1st bankrupts the state of New Jersey and now MF Global.



  6. #6
    Addict
    Points: 72,276, Level: 83
    Level completed: 49%, Points required for next Level: 874
    Overall activity: 6.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,010
    Points
    72,276
    Level
    83
    Thumbs Up
    Received: 83
    Given: 99

    Re: MF Global

    Folks; this is what the Occupy Wall Streeters need to be protesting; and I'm pi**ed off enough to join them.

    Poorly regulated Hedge Fund Managers taking other people's money and using it like a drunk at the Vegas Crap Tables.

    Whether it's Fannie / Freddie and the mortgage industry; and Goldman Sachs with their Credit Default Swaps and now this crap, these Financial Managers are killing Capitalism and the American Economy. Damn them all


    "We are first and foremost an educational institution that values integrity, honesty and treating others with fairness and respect".

    -ISU President Gregory Geoffroy; circa May 2003.

  7. #7
    Pro
    Points: 119,141, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points
    balken's Avatar
    Join Date
    Apr 2006
    Posts
    2,643
    Points
    119,141
    Level
    100
    Thumbs Up
    Received: 3
    Given: 0

    Re: MF Global

    Not pretty. Couldn't trade today (unless you wanted to liquidate an existing position) and wasn't able to wire funds out. Info supposed to be coming tomorrow.



  8. #8
    Pro
    Points: 91,943, Level: 94
    Level completed: 37%, Points required for next Level: 1,207
    Overall activity: 4.0%
    Achievements:
    Veteran50000 Experience Points
    NobodyBeatsCy's Avatar
    Join Date
    Apr 2008
    Location
    Clive, IA
    Posts
    3,291
    Points
    91,943
    Level
    94
    Thumbs Up
    Received: 76
    Given: 44

    Re: MF Global

    My first thought was this had something to do with Prestige Worldwide, but I've been on airplanes all day


    "Explode and tear this whole town apart
    Take a knife and cut this pain from my heart
    Find somebody itching for something to start"


    "The Promised Land" Bruce Springsteen

  9. #9
    Addict
    Points: 72,276, Level: 83
    Level completed: 49%, Points required for next Level: 874
    Overall activity: 6.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,010
    Points
    72,276
    Level
    83
    Thumbs Up
    Received: 83
    Given: 99

    Re: MF Global

    Quote Originally Posted by balken View Post
    Not pretty. Couldn't trade today (unless you wanted to liquidate an existing position) and wasn't able to wire funds out. Info supposed to be coming tomorrow.
    We're you trying to go short, or trade thin-volume stocks? I didn't have any problem with - and even found shares to short, but they were all equities with > 900K shares / day volume.


    "We are first and foremost an educational institution that values integrity, honesty and treating others with fairness and respect".

    -ISU President Gregory Geoffroy; circa May 2003.

  10. #10
    Pro
    Points: 119,141, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points
    balken's Avatar
    Join Date
    Apr 2006
    Posts
    2,643
    Points
    119,141
    Level
    100
    Thumbs Up
    Received: 3
    Given: 0

    Re: MF Global

    Quote Originally Posted by Go2Guy View Post
    We're you trying to go short, or trade thin-volume stocks? I didn't have any problem with - and even found shares to short, but they were all equities with > 900K shares / day volume.
    Commodities. Brokers using MF Global as their clearing firm were not able to execute trades unless to liquidate existing positions.



  11. #11
    Addict
    Points: 72,276, Level: 83
    Level completed: 49%, Points required for next Level: 874
    Overall activity: 6.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points

    Join Date
    Mar 2006
    Location
    Houston, TX
    Posts
    5,010
    Points
    72,276
    Level
    83
    Thumbs Up
    Received: 83
    Given: 99

    Re: MF Global

    Quote Originally Posted by balken View Post
    Commodities. Brokers using MF Global as their clearing firm were not able to execute trades unless to liquidate existing positions.
    Do you think Gold & Copper will be weak as a result?

    I just initiated some ETF positions as they broke out last week.


    "We are first and foremost an educational institution that values integrity, honesty and treating others with fairness and respect".

    -ISU President Gregory Geoffroy; circa May 2003.

  12. #12
    Speechless
    Points: 398,619, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 67.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    58,793
    Points
    398,619
    Level
    100
    Thumbs Up
    Received: 551
    Given: 349

    Re: MF Global

    Quote Originally Posted by Go2Guy View Post
    Folks; this is what the Occupy Wall Streeters need to be protesting; and I'm pi**ed off enough to join them.

    Poorly regulated Hedge Fund Managers taking other people's money and using it like a drunk at the Vegas Crap Tables.

    Whether it's Fannie / Freddie and the mortgage industry; and Goldman Sachs with their Credit Default Swaps and now this crap, these Financial Managers are killing Capitalism and the American Economy. Damn them all
    Jon Corzine went down in flames today.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  13. #13
    Pro
    Points: 119,141, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points
    balken's Avatar
    Join Date
    Apr 2006
    Posts
    2,643
    Points
    119,141
    Level
    100
    Thumbs Up
    Received: 3
    Given: 0

    Re: MF Global

    Quote Originally Posted by Go2Guy View Post
    Do you think Gold & Copper will be weak as a result?

    I just initiated some ETF positions as they broke out last week.
    CME has suspended their floor privileges and that will not change. Sounds like brokers may be able to move existing accounts to another clearing firm as early as tomorrow, but nothing is certain. It will be interesting because you may be able to move positions but not funds so accounts will have to be recapitalized for margin.

    As for metals, I have no idea what percent of trades they clear or how it will affect the market, but if the trade is thin as a result you would expect an increase in volatility. This is all speculation at this point, however.



  14. #14
    Speechless
    Points: 730,047, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 40.0%
    Achievements:
    SocialVeteranCreated Album pictures50000 Experience PointsOverdrive
    Cyclonepride's Avatar
    Join Date
    Apr 2006
    Location
    A pineapple under the sea
    Posts
    47,471
    Points
    730,047
    Level
    100
    Thumbs Up
    Received: 1,305
    Given: 637

    Re: MF Global

    Quote Originally Posted by geburgess View Post
    For those who don't know: Regulators Investigating MF Global for Missing Money - NYTimes.com

    This looks to be nasty... Can't just make ~$700 million disappear.
    There's about $1.2 quadrillion (estimated) sitting around off the books that could disappear just as easily.



  15. #15
    All-Star
    Points: 14,457, Level: 36
    Level completed: 51%, Points required for next Level: 393
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Sep 2007
    Posts
    1,038
    Points
    14,457
    Level
    36
    Thumbs Up
    Received: 11
    Given: 2

    Re: MF Global

    This article sums up the present situation nicely. It's amazing to me how much leverage these guys are still allowed to put on. Look out below. U.S. Banks Sell More Insurance on Europe Debt - Bloomberg



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: FOX
  • Iowa State vs. Baylor
  • September 27, 2014
  • 07:20 PM