l****z
发帖数: 29846 | 1 In late 2010, the Commodity Futures Trading Commission considered a rule
change which would have prevented futures brokers from investing their firm
’s money or borrowed client money in foreign sovereign debt.
Jon Corzine, then CEO of MF Global, lobbied against the rule change – to
his former Goldman colleague Gary Gensler who currently runs the CFTC – and
the change was stopped in its tracks.
Now, after about a billion dollars of misappropriated customer funds and
another billion in lost shareholder value following MF Global’s collapse
due to investments in foreign sovereign debt, the CFTC has approved that
same rule change.
I would laugh if it weren’t so expensive a failure. (I actually know two
people who will lose money they had in customer accounts with MF or its
subsidiaries or clients.)
One thing I can promise you: the reaction by the left will be to claim that
the CFTC is underfunded. |
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