Sword Of The Lord With Electronic Edge

Wednesday, November 02, 2011

Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers? | ZeroHedge

Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers? | ZeroHedge: "Say you are the head back office guy at MF Global, it is the close of trading on Thursday, the firm has already completely drawn down on its revolver, and all the resulting cash in addition to all the firm's cash at your disposal in affiliated bank accounts, up to and including petty cash, has been used to satisfy margin demands due to declining collateral value, yet the collateral calls just won't stop, and impatient voices on the other side of the phone line demand you transfer even more cash over immediately or else risk default proceedings commenced against you within minutes. What do you do?"

'via Blog this'

No comments:

Please Help Support Us If You Like What You See On This Blog.