"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Thursday, November 3, 2011

CME Group attempting to clean up the MF Global mess

Dow Jones is reporting this morning that a total of TEN firms have agreed to accept portions of MF Global's clientele.

The firms are as follow:

Dorman Trading LLC
BNP Paribas
RJ O'Brien & Associates
Mizuho Securities USA
FC Stone
Rosenthal Collins Group
Penson Financial Services
ADM Investor Services
Macquarie Futures USA


  1. Was hoping the headline read "CME Group cleaning up mess" Corzine jailed.

  2. MFG will show the real story. 5 year chart. Up to about 2 weeks ago, all is well in the Corzine camp....
    Today MFG....27 cents from $30 +
    jail..?Commingling???? What is wrong with this country?

  3. Dan.
    Been reading for maybe 6 months. Found you from your visiability on King World and also from Turd's site.
    I 've not been back to your blog for maybe a month but I want you to know that your posts are getting better. Your expalnations of price movemnets are more complete and understandable to the neo-investor and you thought processes flow better in black and white. Your blog will gain traction if your readers are anything like me.

  4. and if your readers are anything like me, you will be consigned to a crushing anonymity

  5. Dan...do you have any thoughts on the concern that the CME will liquidate MF's commodity assets including a large long position in silver? Seems to be much chatter on the web about this. If it were your guess, do you believe the large banks added to silver shorts this week. It traded to me like there was some capping..

  6. mmm?

    I love the open forum. Just have to say, wherever, I may be crushed, it is freedom that is the best feeling. Freedom of Press is the best defence to this nations problems.

  7. Crusso33;

    I have read that those accounts which are not given a home by another firm will be forced to liquidate existing positions. As of now there are ten firms that are taking MF Global's customers but how many of those customers have been given a new home, I am not sure of. We might see some of this forced liquidation if the accounts cannot be adopted before the close of business tomorrow. I guess we just have to wait and see.

    What might happen if this occurs is some guys will look for the setback in price as a buy in opportunity given the fact that the risk trades were back on, at least for today. As long as those trades are in vogue, commodities are going to generally be bought, especially if the US Dollar moves lower.

    right now I am as uncertain as to where we are heading as anyone else. None of know what is happening from day to day.

  8. http://www.minyanville.com/businessmarkets/articles/mf-global-mf-global-files-for/11/3/2011/id/37752?utm_campaign=Newsletter&utm_medium=Minyanville+Digest&utm_source=20111103

    Here is some information. Since I am not involved nor do I have any professional training would love to hear peoples opinions.

  9. I guess we are headed for the end of the river soon. It actually is progress. It would be nicer to have "laws" that are currently in force be "enforced".Mr Corzine, your guilotine awaits you. Oh, Wait,...new news....Jamie just stayed your execution... Stay tuned.


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