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MF Global

Meaning of MF Global

Ann Barnhardt closed her brokerage firm and submitted a damning letter as to why. She has been interviewed by Jim Puplava and provided a “pull-no-punches interview.… 

Our Professional Criminal Class

The political corruption in this country is no longer whispered about. It is out in the open and fairly well recognized. Productive society is getting plundered by the parasite class in Washington DC and their friends.

The MF Global collapse is merely the latest scandal that has harmed citizens. The lack of prosecutions in the banking system and the politicians who made the thefts possible only provides signals to others that such behavior is acceptable, so long as you know the right people and pay the proper favors.

The linkage between Wall Street and Washington is goes well beyond traditional lobbying. Both sides are getting rich off insider information, favors and special deals. The MF Global implosion (and theft) is a real inconvenience for the political class. As described by Kevin Hayden:

MF Global collapsed while under the leadership of Jon S. Corzine, who was previously governor of New Jersey, a U.S. senator, and the head of Goldman Sachs. MF Global made costly bets on European government bonds.

Mr. Corzine was rumored to be the next Treasury Secretary. He also was a key

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