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TFC Commodity Trading Forum

Re: mf global ///pfg
In Response To: mf global ///pfg ()

Hi Duck,

The trustee for the MF Parent Company is Freeh, and the Trustee for the commodity brokerage is Giddens. They seem to have been bumping heads on this. Giddens wants the client money that was stolen returned first. Freeh, who is an ex FBI director, wants to restore money to the parent compay which wants to return money to investors that held stocks, bonds, etc... in the parent company. Therefore, they have similar, but different mandates on those they represent, and different agendas. Giddens has said he only has 80% of client money available (I am a former client and have received 72%). I think we may get 80% back, but may have to wait for bankrucpty to run its course and hope to get more back after a number of years in bankrucpty. My guess is a minimum of three years. Why do I guess that? I had one compay in my 401K that filed bankrucpty and that portion of the 401K was frozen for 6 years. After liquidation we got our money. I worked for a major telecom company that filed bankrucpty and I have had a claim for over three years and am still waiting on my serverence money( since I was layed off 2 months before bankrucpty) that I had comming just before bankrucpty. I would be thrilled, if they found the money. However, once banrucpty is declared it is all bad. This is just from someone who has gotten a sharp banrucpty stick in the eye a couple of times.

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mf global ///pfg
Re: mf global ///pfg
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