JUST ANOTHER COVER-UP IN PLAIN SIGHT
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Did you expect anything different? One set of rules for the people with connections…another set of rules for those who don’t. Just make up the story that there was just chaos…no fraud…even though, ON PURPOSE, $1.5 billion was transferred out of customer accounts. Just another cover-up in plain sight. Of course, now this schmuck is considering a hedge fund. Yeah! Read this:
A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.
After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.
SOURCE: http://dealbook.nytimes.com