Did You Know...


MF Global Trustee: Company Shortfall Could Be Double Original Estimate

By Doug Powers  •  November 21, 2011 02:32 PM

**Written by Doug Powers

After MF Global declared bankruptcy, it was reported that the company’s shortfall could be in the $600-$700 million range.

Now it’s looking like the shortfall could be double that:

The court-appointed trustee overseeing the liquidation of MF Global’s brokerage now estimates that the shortfall in the firm’s customer funds could be more than $1.2 billion, double previous estimates.

The trustee, James W. Giddens, said in a statement on Monday that his office was continuing to search for the missing funds, in conjunction with regulators and the Justice Department. He added that the numbers were preliminary and could change.

Mr. Giddens’s office did not elaborate on what might have happened to the money, though investigators have been focusing on the possibility that MF Global improperly used customer money to cover trading losses in the days before its bankruptcy filing.

Has the White House stopped calling Corzine for economic advice yet?

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
Posted in: Corruption,Politics

Clinton Foundation refiles years worth of taxes ‘in the interest of transparency’ (but only after they got busted)

November 17, 2015 11:57 AM by Doug Powers


Millions and millions in foreign donations previously undisclosed

Go figure II: Exxon stopped fueling the Clinton Foundation around the time Hillary called for its investigation

November 3, 2015 01:49 PM by Doug Powers


Quintessentially Clinton

Go figure: Clinton Foundation donations up during Hillary’s run

November 2, 2015 05:17 AM by Doug Powers


They love it when a plan comes together

Typical: Hillary pledges to protect ‘law abiding’ illegals she was ‘adamantly against’ a dozen years ago

October 26, 2015 10:17 PM by Doug Powers


Flip flopping she can believe in!

Friday injustice dump: DOJ is charging Lois Lerner with… absolutely nothing

October 23, 2015 01:40 PM by Doug Powers


“Poor management is not a crime”

Categories: Barack Obama, Corruption, Democrats, Public Officials

Follow me on Twitter Follow me on Facebook