Sometimes you wonder if we’re living in an alternate universe.
Recent news reports that cite un-named sources and indicate the MF Global criminal case has “gone cold” are curious. In fact, these news reports are even more bizarre than previous reports claiming MF Global client funds have simply “vaporized.” A pattern of behavior and reporting appears to be emerging that supports one overall goal: push the MF Global story under the radar, avoiding serious investigation and keep the inner workings and questionable circumstances surrounding a historic event out of public view and understanding. This, in turn, paves the way for MF Global creditors to legally swoop in on what rightfully belongs to the customers.
The “vaporized” and “case gone cold” news reports all convey a common underlying message: no one is responsible for what is now estimated as the loss of $1.6 billion taken from customer segregated accounts. There was no criminal activity. The message seems to instruct people to “mind their own business, keep quiet and just ignore what is the 8th largest bankruptcy in US history, a scandal tainted with fraud allegations that involves a man who is arguably the most politically connected Wall Street insider to ever walk among the backroom corridors of Washington DC.” Yet, by not officially using the "f" word (fraud), regulators, trustees, prosecutors and the rest of the panoply of public "protectors" make it more likely that the recipients, such as JP Morgan, of hundreds of millions in transfers of customer money in MF Global's final days will simply get to keep it. The core integrity of the commodity markets has been destroyed and an “industry of investor protections” with an exemplary regulatory record for protecting customer funds, now demands a rewrite.
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http://www.zerohedge.com/contributed/2012-10-08/do-they-think-we-are-stupid-%E2%80%9Cmr-vaporized%E2%80%9D-mf-global-scandal-unmasked?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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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