muses of the moment

January 9, 2013

MF Global customers are NOT creditors

Filed under: MF Global bankruptcy — totallygroovygirlfriday @ 12:31 pm

Click here for an interesting development in the MF Global crime scene. The interesting thing is not that customers’ coalition can not question Corzine and others, but the reason the bankruptcy judge gave. They are not considered creditors in the coalition form.

groovygirl mentioned when the MF Global collapse happened, over a year ago last fall, and clients’ money was legally STOLEN to watch this case closely. It is precedence for every similar crime in the future. Your funds are not safe unless they are in your name only or in your possession.

Some may argue that what is the difference if customers get all their money back eventually? Money you do not have access to for days, months or years or you have to sue someone to get is not your money.

This is a very important situation. You are responsible for protecting your own assets. There is no rule of law.

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2 Comments »

  1. Thanks for the link. Hope you are doing well.

    gg

    Comment by totallygroovygirlfriday — January 11, 2013 @ 4:09 pm


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