Financial firm shuts down in wake of MF Global

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.
This is definitely partisan, but it's the people at the margin who act first. The first protesters at OWS were heavily represented by anarchists and communists, but it soon swelled to include lots of ordinary Americans. She also stopped paying her taxes, explain in an earlier post. (There are no permalinks so you have to scroll down to read posts.) From a social mood perspective, anger is manifesting. Coincidentally, OWS was on the move the same day she shuttered her firm...

No comments:

Post a Comment