Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (46587)	2/16/2006 11:29:05 AM
From: clochard	of 116555

Refco debacle continues ad nauseum: Dear RefcoFX Client, The auction process is now over. FXCM submitted the highest bid and won the auction. Unfortunately, the creditors of Refco are now objecting to the deal indicating their belief that the approximately $110 million purchase price is not enough money. FXCM is committed to seeking a conclusion to this process that will support the RefcoFX clients. FXCM's offer, if approved by the Court, would provide for the full funding of the RefcoFX client accounts. We appreciate your continued support during this process. Refco has set up a toll-free information line (866-327-0774) to answer additional questions or you may e-mail Meagan_Repko@sitrick.com. We will continue to update you as more information becomes available. Best Regards, Refco FX Associates LLC

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