Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (46135)	1/8/2012 8:02:52 PM
From: robert b furman	Respond to of 78611

Hi CB, You are correct on the travesty of MF. If you were levered and couldn't cover - they'd sell you out. Some where the money was lost and customer funds were stolen. There's a thief somewhere and until it is found out, Corzine needs to take a perk walk. The BS about taxing the fat cats is confounded once again by not prosecuting those fat cats that cheat. What a concept treat every body the same under the same law.Imagine that. Bob

To: Spekulatius who wrote (46135)	1/9/2012 6:43:34 PM
From: Madharry	2 Recommendations Respond to of 78611

the problem isnt financial transactions, the problem is that there is a ton of one hand washes the other between financial institutions and politicians. At the major bank I worked for were encouraged to join a PAC and there were recommended contributions based upon grade. We made loans and direct contibutions to politicians and their campaigns and we had a designated community reinvestment act officer who wielded quite a bit of clout in the organization. I assume that you can multiply this by several thousand in washington dc. then of course we have all the interactons between the fed, GS and the other major banks. Now we toss in the regulators, many of whom are either retired bankers who just want a cushy job, or newbies. Years ago I went for a job interview for some state regulator job in Wisconsin. I was interviewed by the head guy and the much younger second in command. They were looking for someone to liason between the second in command and the rest of the staff. After about 30 seconds it turned out that #2 was the son-in-law of #1 and was probably leapfrogged over everyone else. Needless to say not the kind of job environment I was looking for. What is more unsettling to me than the fact that existing regulations allowed mf global to speculate with their customers deposits is that the accounting was allowed to be so poor that no one could track what happened 4 months later. We have not heard anything more of this. I dont want to create a panic but imagine if your roth ira funds suddenly didnt turn out to be in your account and after 4 months the regulators tell you: well we dont know where they are but we are looking for them. I am pretty surprised that there has not been any blood shed over this.

To: Spekulatius who wrote (46135)	1/10/2012 8:56:11 AM
From: Madharry	Read Replies (1) \| Respond to of 78611

they just had some ex cfo of chase/morgan on cnbc, who is now head of treasurey services there, and they asked him about depositors money at mf global that is rumored to be at chase. He gave a real squirmy answer- that his bank was just one lens of several and that they had given the regulators everything they had asked for. Ha Ha Ha. they asked him about the new stress tests. he said that he hopes that will restore confidence in US banks. No one bothered to ask him the follow up question like last time the banks passed stress tests the fed opened its spigots lent the banks trillions of dollars but didnt tell anyone except insiders of course until a law suit forced the disclosure. He also said that the banks are sufficiently transparent that anlaysts can do their own stress tests. Ha Ha Ha. I am putting my trust in gold and silver entities (not slv) thank you very much. The IRS is trying to uncover US citizens assets abroad. they must be getting pretty despreate to increase the revenue stream. A good friend of mine likened the economic situation in the US to being on a train that is headed for a crash. One just doesnt know when.