Just in time for the big game, via Colonel Flick:


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Category: Digital Media, Legal, Sports

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “MFG Account Vaporization Playbook”

  1. theexpertisin says:

    Put Greenspan bending over at Center, with Geitner and Bernanke at Guards and you have a quite the team.

  2. crunched says:

    Hey BR… you said this in an earlier post:

    ‘ZH I like, despite their relentless negativity during the greatest rally in 30 years. However, I still find their CDO and HFT analysis outstanding — its just getting harder to separate the useful research from the lunatic fringe.’

    Your comment here echoes something I heard Steve Liesman say on CNBC the other day. It was something to the effect of…’How can there still be any naysayers left to doubt the validity of the current rally after a three year bull market?’

    So basically, Steve doesn’t understand why investors aren’t piling into the markets, and you don’t understand why Zero Hedge had been negative. Steve Liesman, I understand, is a complete dolt, working for a cable news channel that has a host of conflicting agendas, I get that.

    You, on the other hand, portend to judge the markets on a more fair basis. So, I ask you… Do you really feel the stock market’s rise over these last couple of years has been legit, and not carried with it an element of danger?

    According to my calculations, the stock market hasn’t risen since 2009 unless there is some form of QE in place (made new 52 week highs). Whether it be the announcement of, the anticipation of, or the actual program ongoing…

    So am I wrong to assume that by putting faith in the stock market these days, it is essentially the same thing as putting faith in the US government? The same government ( Federal Reserve and Treasury) whose recklessness and ineptitude had a large hand in creating the crisis in the first place? And the same government that has equally blundered the recovery and squandered almost every opportunity to fix a broken system? (see Confidence Men)

    Without even getting into HFT, flash crashes, trillions in unregulated derivatives, or a futures market that has a knack for mysteriously floating higher late at night… I think it would be safe to say, the markets have been wrought with danger. Not necessarily the kind of place an investor who just lost half their portfolio in 2007 -2008 has been eager to jump back into. Especially when many of the same practices and players that caused the original problems are still operating freely as if nothing ever happened.

    The bottom line is, if Zero Hedge had been around in 2006 I bet their pages would have been filled every day with posts about sub-prime, derivatives, and the ridiculous levels of leverage. The kinds of things that would have eventually saved a lot of people a ton of money.

  3. philipat says:

    Originally posted by William Banzai7 on Zero Hedge??

  4. Sechel says:

    The hearings are not get talked about enough. It’s obvious that people are lying and that Corzine subverted the control structure of MF Global to remove any and all adult supervision. What we saw first hand show a rogue CEO(Corzine), didn’t like what the risk officer was saying, replaced him with with a walled off less capable replacement( who also failed to warn of the UBS blow-up) Look at the hearing….

    Congressman Pierce of New Mexico cut to the heart of the issue in the Q.A. of the Feb 2nd hearing. Chief Risk Officer Michael Roseman’s role in the firm was quite different than Michael Stockman’s. Roseman was paid more, involved in key risk meetings, reported directly to the CEO and was able to bring issued directly to the board, while Stockman was paid less, reported to the CFO, spoke to the board only upon the board’s request and was not involved in key risk meetings.

    Now when you consider what is being by Corzine and his lieutenants about not knowing or causing the loss of customer funds.. It strains credibility. The CEO was the head trader and was personally involved in just about all facets of operation and not answerable.

  5. Fredbela says:

    For a humorous approach, interesting that they correctly conclude that Dimon has the dollars.

  6. techy says:

    Its kind of scary. Does that mean that the money we keep with the brokerage firms are not safe?

    I used to think that SIPC has got our back on this for upto $500k, is that wrong?