tag:blogger.com,1999:blog-5724181159639068489.post898872424508400033..comments2023-11-05T05:09:14.089-05:00Comments on Goldman Sachs: Information, Comments, Opinions and Facts: The Mock Trial of Goldman SachsRobertMhttp://www.blogger.com/profile/03960912417983904202noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5724181159639068489.post-2651736366741097812011-11-03T09:44:42.687-04:002011-11-03T09:44:42.687-04:00laugh or cry?
http://jessescrossroadscafe.blogsp...laugh or cry?<br /><br /><br />http://jessescrossroadscafe.blogspot.com/Lambchopnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-27353040020646123122011-11-02T21:39:05.247-04:002011-11-02T21:39:05.247-04:00-Man became MF Global. Rinse and repeat.
The hist...-Man became MF Global. Rinse and repeat.<br /><br />The history is relevant as it is more evidence that Corzine and MF management HAD to know that commingling was the ultimate no-no. It was part of their history.<br /><br />My guess is that the missing customer cash was grabbed by one (or more) of the big players in the global bond market. MF did not sign off on the cash grab. The banks moved on them and their customer accounts. MF had no say in the matter.<br /><br />Given Corzine’s relationship with Goldman, I put them high on the list of probable plug pulling bankers. Nomura was a place to go to finance AAA sovereign positions. One of the French or German banks could have been the warehouse for MF’s sovereign exposure. It wouldn’t surprise me if any one of them pulled the plug on the leveraged bets.<br /><br />It should be noted that all of the big players talk when they are moving on collateral and closing relationships with financial firms.When the SHTF, they act as one.<br /><br />MF has said that the funding for the sovereign exposure was “locked up” to maturity. That’s complete bullshit. I can tell you from first hand knowledge. When Wall Street is financing positions they always have a MAC (Material Adverse Change) provision that allows them to call the financing. If the debt is not immediately repaid it produces an event of default. That creates a cross default to all other asset positions. When they smell trouble they move first and ask questions later. They always lock up cash. <br /><br /><br />http://www.zerohedge.com/contributed/mf?Anonnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-55976484815812713652011-11-02T14:39:05.818-04:002011-11-02T14:39:05.818-04:00MF Global Bankruptcy vs Utility Banking & Refo...MF Global Bankruptcy vs Utility Banking & Reform<br /><br />We need utility banking. MF Global CEO Jon Corzine, Former CEO of <br />Goldman Sachs- Senator-Governor, knows the program.. He wins, you lose. <br /> You might have lost some money in the TIAA CREF pension fund or <br />perhaps his firm may have allegedly dipped into your client funds to <br />cover highly leveraged speculations (and possibly derivatives). Jon <br />Corzine may be illustrative of our government dysfunction where the <br />regulators are afraid to rock the boat and our congressmen are bought <br />off and paid for as they move into the revolving door between business <br />and government. Utility banking is a simple concept.. you put your <br />money in and its safe from speculation.<br /><br />http://www.youtube.com/watch?v=Lok008p7F88&feature=youtube_gdataAnonnoreply@blogger.com