MF Global . Corzine . Commingled funds . Missing customer $$$. Bankruptcy. Congressional hearings. Millions tied up in Britian's Bankruptcy System. Secrecy. Corzine getting a pass . A sequel to Madoff . Auditors, accountants...No answers .
Then lo and behold, a breath of fresh air . Barclays , Royal Bank of Scotland and the Seaport Group ,as reported by The New York Times today, are lining up to buy US customers' distressed claims for 90 and 91 cents on the dollar. Sounds like an offer to good to be true. The "big banks " are betting that all or a great percentage of MF Global's funds will be recouped and they will make money on the spread.
For now, I have two word of advice for MF Global customers...Grab It!!!!!!!!
This has been market watchdog Steve Goldman reporting.
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