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After MF Global, futures industry rethinks bailout fund

By: capt_nemo in ROUND | Recommend this post (0)
Thu, 24 Nov 11 10:21 AM | 43 view(s)
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OH GOD NOOOOOOOOOOOOO Not restrictions and regulations. God forbid.......What a novel idea, Hope they do it.

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By Ann Saphir

CHICAGO (Reuters) - In November 1986, shaken by traders' losses after a brokerage went bust, the U.S. futures industry considered, and then rejected, the notion of insuring customer funds in a broker default.

The collapse last month of MF Global Holdings Inc, and hundreds of millions of dollars of still-missing customer money, is forcing a rethink of that 25-year-old decision.

Executives at the National Futures Association have been talking with senior management at CME Group Inc and other

http://finance.yahoo.com/news/mf-global-futures-industry-rethinks-060910193.html?l=1


The futures industry seeks to protect customers by requiring brokers to wall off customer accounts from their own funds.

Can't believe this was never put in place...........




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.


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