MF Global's Bankruptcy isn't the end, it's the begining

Today and last night I expressed concern that there was more to MF Global then meets the eye and that charges may be brought. Little did I know how on target I actually was off a pure hunch.

In MF Global's bankruptcy filing, there is a LOT of information missing. First, regulators can't get ahold of records or data relating to where their customer's money is and how it had been kept separated for protective purposes. Speculation is that MF is trying to protect either Corzine or other banks and primary dealers.

Reuters is calling MF Global, "Europe's biggest U.S. casualty to date" as well as the 7th largest bankruptcy by assets in the history of the U.S.

All we know now is that the SEC, the Commodity and Futures Trading Commission and the "FAD" are all talking-sounds a lot like Lehman in many ways.


Earlier I mentioned how other broker dealers were keeping MF Global employees and customers off the trading floor and locking them out, it seems they may have had a head's up to the back room drama we are just hearing about.

Stay tuned... This may have tentacles that reach a lot further then a run of the mill failure of a corporation.