Forum Post: (((Here You Go: It's Over))) "CNBC is reporting that there are now clients running out of the markets entirely because they Do Not believe their customer funds are safe."
Posted 12 years ago on Nov. 22, 2011, 3:10 p.m. EST by MonetizingDiscontent
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This content is user submitted and not an official statement
Here You Go: It's Over
http://market-ticker.org/akcs-www?post=197878&page=1
-November 22, 2011-
We're done folks.
CNBC is reporting that there are now clients running out of the markets entirely because they do not believe their customer funds are safe.
That's the end of it. The belief that there are more MF Globals has now taken hold. The thieves have pushed it too far and now we've got the start of a global liquidity run, and with good reason.
The authorities both in the regulatory side and on the prosecutorial side have refused to put a stop to the thievery and now the risk factors have turned into realized risk.
The market is done folks. You can be right but if you make your bet in the markets, are right, and then get screwed anyway when someone steals the money and nobody goes to jail there comes a time when people begin to understand that it can happen to them and will unless they depart the market.
Continued Here: http://market-ticker.org/akcs-www?post=197878&page=1
JP Morgan leverages their balance sheet BEYOND Enron levels
JP Morgan to buy MF Global’s London Metals Exchange stake
http://www.reuters.com/article/2011/11/22/us-jpmorgan-lme-idUSTRE7AL1AJ20111122
-November 22, 2011-
Heeeeeere's Jonnie (Corzine)
http://www.zerohedge.com/news/heeeeeeres-jonnie-corzine
Corzine's permanent expatriation plans may have to be delayed as Corzine is called in to explain why he didn't leak news of MF Global's demise to Congress ahead of time so the 435 insider traders could profit on the outcome.
*MF GLOBAL TRUSTEE LEARNED OF $1.2 BILLION SHORTFALL AT WEEKEND
*HOUSE PANEL WILL HOLD HEARING ON MF GLOBAL FAILURE ON DEC. 15
*CORZINE CALLED BY HOUSE FINANCIAL SERVICES OVERSIGHT PANEL
In the meantime, the theft at MF Global is getting more and more staggering by the minute:
*MF GLOBAL TRUSTEE HAS $50 MLN IN BOUNCED CHECKS, LAWYER SAYS
*MF GLOBAL ESTIMATE OF SHORTFALL COULD STILL RISE, LAWYER SAYS
*MF GLOBAL TRUSTEE HAS TO BE CONSERVATIVE, LAWYER SAYS
*MF GLOBAL'S $1.2 BILLION SHORTFALL ESTIMATE IS PRELIMINARY
*MF GLOBAL TRUSTEE TO DEAL WITH BOUNCED CHECKS, LAWYER SAYS
When all is said and done, the total theft will be at least $1.5 billion as we expected on November 2.
::::::::::::CME: "No Customer Has Ever Lost A Penny....."::::::::::::
http://market-ticker.org/akcs-www?post=197930
-Nov 22 2011-
As recently as 2010, Terrence Duffy boasted, "No customer has ever lost a penny as a result of a clearing member default."* Moreover, in the same press conference, Duffy stated unequivocally, "Since we are the guarantor of every transaction that happens in our markets, we have to guarantee the performance of each and every one of these contracts ... To do this, we hold more than $100 billion of collateral to support the transactions that are being done on our markets."
Great Article, Continue Reading Here:
http://market-ticker.org/akcs-www?post=197930
::::::::::::Showing You The Money... All Of It::::::::::::
http://www.zerohedge.com/news/showing-you-money-all-it
Ever wondered what would happen if someone actually "showed you the money"? Well, here it is. All of it.
Wall street's main product is based on faith and trust -----------who trust's wall street right now ? if it wasn't for the US taxpayer Citi group, Bank of America, Wachovia, Merril Lynch, Bear Stearns ,AIG ,Goldman a few thousand small banks would be gone ---bankrupt. Amazing that after all that the behavior did not change and now we have MF Global. I think you are right last straw !
Aren't they talking about the bondholders of soverign debt in Europe? That's what I read earlier this week. That bondholders were divesting and running for the hills. Just as MF Global lost all that money on credit default swaps on Europe's sovereign debt crisis, so has Goldman Sachs, JPMorgan, have I left anyone out? Anyway, the only silver lining here will be that these bastards will finally be taken down, and more negatively alot of people are gonna lose money, pensions, etc..
I followed your link thinking I might go to the report on CNBC's site instead I end up where? Some stupid blog?
Is it surprising that the mainstream media are slow to highlight this particular angle of the story? I don't think so. Soon as mainstream catches up I will come back and provide a link to USA Today for you.
I've been waiting for this angle to gain some traction.
Well what was your gripe anyway, because the evidence is all there. Or, was it just that you didn't like the 'feel' of Market-Ticker.
""Some stupid blog?"" Thats it, thats all you have? Its a blog?
uh, ok well what portion of the INFORMATION in this particular 'blog' do you dispute, or find fault with? If any. At least give me something to chew on ...I mean c'mon, so far all you have is your so-very-humble opinion, on whether a blog is 'stupid' or not.
If the claim is CNBC is reporting, then I want to see the report. Until I see the "report" its just another attempt to grab readers by reporting something that is not yet substantiated.
wow!!! stand totally corrected. still looking. I cant find it either. I may stop using that site. My very sincerest apologies brother. (plus I thought you were talking about another article, in my reply to you above)
The bank news is so thick, fast and furious out there right now that, I didn't double check this one, keeping up with it all. (and well, EVERYONE was reporting that it was so! I saw it everywhere)
well at least I wasn't the only one. ambarASSed smiles.
Thank you, for your eye commonsense11.
I will delete this post in a day or two, if the link doesn't pop up somwhere, or isn't verified.
Mainstream enough for you?
http://www.cnbc.com/id/45406142
Congressional Panel Seeks to Question Corzine Published: Tuesday, 22 Nov 2011 | 4:07 PM ET Text Size By: Ben Protess The New York Times
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A congressional panel plans to question MF Global executives, including Jon S. Corzine, about the downfall of the trading firm and the customer money that went missing in its final days, according to people familiar with the matter.
The oversight unit of the House Financial Services Committee has tentatively scheduled a public hearing on MF Global for Dec. 15, one person said, and lawmakers plan to call as witnesses Mr. Corzine and Bradley Abelow, the firm’s chief operating officer and Mr. Corzine’s chief of staff when he was governor of New Jersey.
It is unclear whether Mr. Corzine and Mr. Abelow will accept the invitation to testify, though the subcommittee could subpoena the executives if they initially balk.
I read something similar to this a while ago. I'm just looking for the line about a large number of clients pulling all of their money from the market because they don't trust the investors. This would of course indicate a major financial collapse. That particular claim is a stretch not based upon fact. This is what I question. Otherwise you are right. They rip people off and get away with it all the time.
you're right. I google and see over and over "CNBC reports" but i don't see the original report.
Barnhardt Capital Management Has "Gone Galt" - MF Global Claims It's First Major Victim
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty
It may be in reference to the Barnhardt Letter.
Barnhardt is someone, but that isn't CNBC.
nods. you're right, I'm just trying to figure out how this misunderstanding happened. The quote in question isn't ANYWHERE in this video either.
(CNBC) http://screen.yahoo.com/mf-global-confidence-killer-27305930.html
It was my mistake to latch on to what in fact, is apparently a rumor.
yes. CNBC reports and comments on Barnhardt.
one would think it'd be on the CNBC site if "CNBC is reporting" it.
"We're done folks.
CNBC is reporting that there are now clients running out of the markets entirely because they do not believe their customer funds are safe.
That's the end of it. The belief that there are more MF Globals has now taken hold. The thieves have pushed it too far and now we've got the start of a global liquidity run, and with good reason."
Now the point of your post seems to be logical without the CNBC report. What do the markets say? Any run on stocks?
http://markets.on.nytimes.com/research/markets/usmarkets/usmarkets.asp
They are sliding, for sure, but is this a record breaking decline?
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Greed kills. It will be our downfall.
No real change here.
This really could be the beginning of the end for the corrupt banksters.
Keeping fingers crossed! (but not holding my breath just yet) ~well met alouis~
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