Results 1 to 6 of 6
  1. #1
    Speechless
    Points: 437,567, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 43.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    65,708
    Points
    437,567
    Level
    100
    Thumbs Up
    Received: 1,577
    Given: 1,232

    Gone with the Wind

    MF Global Is Said to Have Used Customer Cash Improperly - NYTimes.com

    Like many futures shops, MF Global routinely borrowed money from customers and replaced it with assets like United States Treasury securities. Firms often keep a cushion of cash to protect customer funds, which they are allowed to tap with certain restrictions.
    But according to the people briefed on the investigation, MF Global depleted this buffer and then dipped into the customer accounts to the tune of hundreds of millions of dollars. And in the days before the collapse, the firm stopped backing the loans it took from customers.
    It is unclear whether MF Global officials knowingly used customer money or if they believed the buffer was intact. If investigators determine that MF Global intentionally tapped the customer funds, they could file both civil and criminal charges.
    MF Globalís customers who acted fast got their money back. The rest now must wait in line, and may never fully recover their funds. Bankruptcy experts doubt the trustee will be able to claw back money secured by clients who rushed out the door.
    This is a MF Global update. Some interesting comments in the article. Sounds like if you have gold, it is first one to the redemption trough who is fed.


    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Abdel, Monte, Matt, and McKaT.

  2. #2
    Legend
    Points: 199,730, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 13.0%
    Achievements:
    50000 Experience PointsOverdriveVeteranSocial
    State43's Avatar
    Join Date
    Nov 2010
    Location
    Omaha, NE
    Posts
    12,361
    Points
    199,730
    Level
    100
    Thumbs Up
    Received: 825
    Given: 437

    Re: Gone with the Wind

    This is great ISU football news



  3. #3
    Speechless
    Points: 437,567, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 43.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    65,708
    Points
    437,567
    Level
    100
    Thumbs Up
    Received: 1,577
    Given: 1,232

    Re: Gone with the Wind

    Yep, wrong forum. Need mod help to move.


    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Abdel, Monte, Matt, and McKaT.

  4. #4
    Hall-Of-Famer
    Points: 70,666, Level: 82
    Level completed: 54%, Points required for next Level: 784
    Overall activity: 1.0%
    Achievements:
    VeteranCreated Album pictures50000 Experience Points
    aauummm's Avatar
    Join Date
    Mar 2007
    Location
    On the Road
    Posts
    4,119
    Points
    70,666
    Level
    82
    Thumbs Up
    Received: 228
    Given: 2,764

    Re: Gone with the Wind

    Quote Originally Posted by Wesley View Post
    MF Global Is Said to Have Used Customer Cash Improperly - NYTimes.com



    This is a MF Global update. Some interesting comments in the article. Sounds like if you have gold, it is first one to the redemption trough who is fed.
    Knock, knock Wesley.... You posted this in the football forum by mistake!

    Whoops, I see you noticed that-disregard!



  5. #5
    Addict
    Points: 134,391, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 7.0%
    Achievements:
    50000 Experience PointsVeteranRecommendation Second Class

    Join Date
    Nov 2009
    Location
    Bondurant
    Posts
    8,200
    Points
    134,391
    Level
    100
    Thumbs Up
    Received: 262
    Given: 145

    Re: Gone with the Wind

    The thread title made me think you were talking about OSU title hopes.



  6. #6
    Speechless
    Points: 437,567, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 43.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    65,708
    Points
    437,567
    Level
    100
    Thumbs Up
    Received: 1,577
    Given: 1,232

    Re: Gone with the Wind

    Quote Originally Posted by UNIGuy4Cy View Post
    The thread title made me think you were talking about OSU title hopes.
    Now that you mention it, that may happen tonight
    if someone gets some interceptions.


    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Abdel, Monte, Matt, and McKaT.

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: Cyclones.TV
  • FOOTBALL: Iowa State vs. UNI
  • September 5, 2015
  • 07:00 PM