Hi LUB,Rabbit, ++
Listened to some of the Corzine testimony today.
Sounds like chasing the meaning of the letters in the acronyms has run it's course. Doesn't look like any money is coming back to folks like Rabbit !!???
Corzine walked on water !!! Didn't plead the 5th, Answered all questions AND provided no information !!!
Face it, he has been through the "Training Program" from GS to Senate, to Governor to MF Global where along the way he has learned "how to lose 1.2 Bln." and not "have a clue where it went" !!!!!
An interesting point. And this is just an example as it has been so long I don't recall all of the details.
In work with Chase Manhattan Bank, late 80's Chase handled the bulk of the "interbank wire transfers". This amounted to hundreds of billions of $$ per day. At the end of the day the books would be "closed" on the "major/bulk of the transfers" to "pocket change numbers" that I think were greater than what MF Global cannot find. But "another group" then started to look for "and find the 'pocket change'" and they always did !!!!
I find it "unbelievable" that after this amount of time that MF Global cannot "find the money" !!!!
The POINT OF MY COMMENT IS that after this amount of time, the "missing funds" are not a result of an error/failure of any portion of the "funds transfer system". There is a "human" in there somewhere !!!
Lee