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HomeJames Koutoulas: JP Morgan Insult Added to MF Global Injury
Posted by Larry Doyle on March 12th, 2012 8:24 AM |
Going on five full months and with MF Global customers still waiting for a glimmer of justice on the horizon—and the return of THEIR money—we awake to read that CME executives believe no further regulation could have prevented the debacle that is MF Global.
Why is that?
Most rational and ordinary Americans already sense those running the show at MF Global ‘broke the rules’. CME executives now seemingly maintain as much as well.
Let’s give these CME execs a gold star for a tremendous grasp of the obvious. Let’s also quickly review The Wall Street Journal story and then a further fascinating story highlighting what happened to somebody in the arena who spoke out on this debacle. (more…)
Is the Party REALLY Over?
Posted by Larry Doyle on March 27th, 2009 11:58 AM |
There is NO doubt that our financial markets and financial firms will experience significant changes in regulation on a going forward basis. Turbo-Tim Geithner laid out those plans this week. President Obama is hosting the heads of the major banks at noon today to lay the groundwork for the universal acceptance of the new rules, amongst other topics.
Over the next few weeks and months, new regulations will be defined and a new division of responsibilities will be outlined amongst the various bodies (Fed, Treasury, SEC, FDIC, FINRA, CME). Rest assured, there will be some power grabs by the heads of these agencies and regulatory bodies in the process.
We have clearly just come through an ENORMOUS party on Wall Street, leaving our entire economy with a MASSIVE hangover. Do not forget, though, as with any good party, we need to review who was working the door, who got let in, who got the discount cover, who brought some attractive friends, and who was taking a little something on the side. I won’t dare venture as to who left together. (more…)
