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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (111617)	3/24/2012 12:01:42 PM
From: Road Walker	Read Replies (1) \| Respond to of 149317

The key thing is that it is NOT ILLEGAL in the commodities business to use customers funds for this purpose (this rule is now being reviewed by the SEC). So even if Corizine did instruct this transfer no legal wrong has taken place----as far as I know. I'm not a lawyer but it's my understanding that customer funds are sacrosanct; you just can't use them to your own benefit. They are lock boxed, and that is the basis of trust between all brokerage firms, commodities or more vanilla types. It is the ultimate sin to violate that trust... Corzine needs to be made an example of... My life savings is mostly in brokerage accounts. Most people's life savings are in brokerage accounts of one kind or another. You lose that trust, and the system is broken. In this particular case MM is right.