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(Des Moines Register)   MFGlobal 2, Electric Boogaloo   (blogs.desmoinesregister.com) divider line 15
    More: Scary, PFGBest, capital requirements, small market, segregated funds, University of Iowa Hospitals, Ponzi, MF Global Holdings Ltd., suicide attempts  
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1275 clicks; posted to Business » on 10 Jul 2012 at 12:25 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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vpb [TotalFark]
2012-07-10 12:26:03 PM
Meh. Typical job creator. Probably just too much government regulation.
 
2012-07-10 12:31:02 PM
If only the company had more wealth to leverage this wouldn't have happened.
 
2012-07-10 12:35:07 PM

vpb: Meh. Typical job creator. Probably just too much government regulation.


Quite the opposite.

NFA is the self-regulating organization for the U.S. commodities and futures industry. PFG is one of its members.
 
2012-07-10 12:43:09 PM
FTFA: "Russell R. Wasendorf Sr., PFG's founder, chairman and chief executive officer, is in critical condition at the University of Iowa Hospitals, according to Reuters"

He's in more than one hospital? Car bomb?
 
2012-07-10 12:48:14 PM

Misch: vpb: Meh. Typical job creator. Probably just too much government regulation.

Quite the opposite.

NFA is the self-regulating organization for the U.S. commodities and futures industry. PFG is one of its members.


TOO MUCH GUBERNMENT.
 
2012-07-10 12:58:44 PM

UNAUTHORIZED FINGER: FTFA: "Russell R. Wasendorf Sr., PFG's founder, chairman and chief executive officer, is in critical condition at the University of Iowa Hospitals, according to Reuters"

He's in more than one hospital? Car bomb?


I am ecstatically happy that this man failed to take the easy way out.
 
2012-07-10 01:06:40 PM

Bennie Crabtree: I am ecstatically happy that this man failed to take the easy way out.


Don't worry, I'm sure he's receiving the best of care. I hope he O.D.ed on Ibuprofen.
 
2012-07-10 01:13:03 PM

Bennie Crabtree: UNAUTHORIZED FINGER: FTFA: "Russell R. Wasendorf Sr., PFG's founder, chairman and chief executive officer, is in critical condition at the University of Iowa Hospitals, according to Reuters"

He's in more than one hospital? Car bomb?

I am ecstatically happy that this man failed to take the easy way out.


I thought the easy way out was usually on a private jet to Aruba.
 
2012-07-10 01:19:12 PM

Arkanaut: Bennie Crabtree: UNAUTHORIZED FINGER: FTFA: "Russell R. Wasendorf Sr., PFG's founder, chairman and chief executive officer, is in critical condition at the University of Iowa Hospitals, according to Reuters"

He's in more than one hospital? Car bomb?

I am ecstatically happy that this man failed to take the easy way out.

I thought the easy way out was usually on a private jet to Aruba.


Yea, but then you have to live with the guilt,
 
2012-07-10 01:29:32 PM
farm4.staticflickr.com
 
2012-07-10 02:27:10 PM
But them socialist Canadians are gonna make out like bandits, what with their safeguards and other typical Nanny-state bullcrap:

http://m.theglobeandmail.com/globe-investor/investment-ideas/streetwi s e/despite-missing-funds-pfgs-canadian-clients-expected-to-be-safe/arti cle4402543/?service=mobile

From the above link
North of the border, however, "things are well in hand for Canadian clients," the source here said. Unlike the MF Global fiasco, during which Canadian clients were stuck in limbo for two week as they waited to figure out where their money is going, a swift decision has already been made to transfer client funds to RJ O'Brien & Associates Canada Inc., an IIROC-regulated firm.

Client funds held by PFG Canada are also covered by the Canadian Investor Protection Fund, which puts them at an advantage over U.S. clients. The U.S. equivalent to the CIPF, the Securities Investor Protection Corp. doesn't cover futures accounts, while CIPF covers all investment accounts, from stock to futures to currencies.
 
2012-07-10 02:29:59 PM

Ned Stark: Arkanaut:
I thought the easy way out was usually on a private jet to Aruba.

Yea, but then you have to live with the guilt,


Grown-ups love to say things like that.
4.bp.blogspot.com
 
2012-07-10 03:01:07 PM
I was literally a day away from depositing funds with a brokerage who cleared through PFG.

I got a text at six PM the night before telling me not to do anything. Then I saw this. I was going to do all of this last week but decided to be lazy since it was the holidays.

For once, my procrastination saved my ass.
 
2012-07-10 03:49:42 PM
If only Obamacare hadn't passed this could have all been avoided.
 
2012-07-11 12:15:10 AM
Sure glad our federal government is hard at work fighting this sort of financial corruption!
 
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