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Arseholes

The Telegraph – Staff are understood to have received quarterly bonuses last Monday. It is not clear whether the bonuses were also received by staff in the US.

The news is likely to anger those MF Global customers who have still been unable to access money they held with the broker

It is not surprising that people have a deep well of hostility towards bankers when this sort of behaviour occurs. Combine this with rumours circulating that MF Global stole money from segregated client accounts in the hours before they went bust to post as illegal collateral for emergency funding and you have a compelling case for the image below.

Source – The Telegraph

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Comments

  1. Fortunately I have only a token amount sitting in my MFG account as recently I only traded thru them infrequently. I find it very unsettling however when a company of this stature goes under like this, particularly on the back of Sonray (not of the same stature obviously). Definitely a big wake up call as to why you should only ever have the minimum required funds sittng in your brokers account.
    As an aside, I can’t believe that I need to send in Proof of Creditor forms to the administrator stating how much I believe I’m owed while at the same time I’m still receiving daily electronic statements from MFG stating my account balance !?

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