Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

MF Global Customer Makes Impassioned Plea Recommended

Posted by Larry Doyle on February 27, 2012 8:27 AM |

How are MF Global customers supposed to protect themselves when financial regulators and our legislative bodies show themselves to be incapable of performing that basic duty?

Those engaged in the unseemly acts of Wall Street-Washington Incest have shown their true colors in allowing the most innocent of investors in our nation to be trampled. How un-American of them. That said, while our incestuous ‘friends’ may leak stories over the weekend indicating that the MF Global fight for justice is largely over, let us show them that the fight has only just begun. How might we do so?

Let’s get very specific and highlight an impassioned plea by an MF Global customer who is crying out for help. Sense on Cents welcomes providing a forum to do just that.

In response to my commentary the other day, Is Jon Corzine “Too Big to Indict”? Part VII, a reader responded with a comment which made as strong an impact on me as any comment ever left on my blog. America deserves to hear exactly what this elderly woman has to say. With no editing, I welcome highlighting:

helen metchikoff

i am a 75 yr old grandmother my husband is 76 we take care of a brain injured 55 yr old son all of our investment money we saved in our lifetimes was invested in mf global for a monthly income to live out our lives now we are broke living on a pittance social security checks this is such a crime against all the people who lost through the greed of corzine and all the rest of his cronies isn’t there anything that can be done to help us we are suffering and i don’t think we deserve this they should all be punished severely for this just like madoff is

Is this America?

What type of nation would allow innocent investors like Ms. Metchikoff to be abused in the manner which is ongoing in this MF Global debacle?

Those on Wall Street and in Washington should take heed to see that the full and total truth of what transpired in those fateful days and hours when the MF Global ship went down is detailed and released. I am pleased to see that the Wall Street Journal calls for the same in its lead editorial this morning. The WSJ writes, Whodunit at MF Global:

Could the missing customer money be the result of honest mistakes? An accounting error, according to Phupinder Gill, president of futures-exchange operator CME Group, would normally be “solved in 10 minutes or less.”

Law enforcers need to look back to the last week of October 2011 and determine who authorized fund transfers and why.

Mr. Corzine, a former Senator from New Jersey, cruised through the testimony to his former colleagues on Capitol Hill. Federal investigators should press harder to find out exactly what was said between him and Ms. O’Brien.

While Ms. Metchikoff writes so impassionately about her own plight, there are clearly multitudes more MF Global customers who also suffer. On their behalf, I write and welcome supporting their cause.

Additionally, let me  remind our regulators and legislators of the wisdom shared by the disciple Matthew in 25:40,

And the King will answer them, ‘Truly, I say to you, as you did it to one of the least of these my brothers, you did it to me.’  

There will clearly be a day when real justice will be dispensed to all involved in this MF Global debacle. So we may not have to wait that long, I call out and ask other MF Global customers to share their plight here at Sense on Cents so the collective cause for justice can be expedited.

In order to advance this cause for justice, I would request each and every person who reads this commentary to share it with friends, family, colleagues, and media outlets via any and all forms of social media or otherwise.

Do it for Ms. Metchikoff. She deserves our help.

Larry Doyle

Isn’t it time to  subscribe to all my work via e-mailRSS feed, on Twitteror FacebookDo your friends, family, and colleagues a favor and get them to do the same. Thanks!!

I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.

Recent Posts