Thread: Blow up a company, get a big bonus More insanity/criminality at MF Global

"Job well done" from JP Morgan

JP Morgan paid the bills related to the expenses of MF Global's bankruptcy (the 8th largest in US history) which featured the looting of segregated customer accounts.

And now, the company handling the bankruptcy arrangements has give a "thumbs up" to rewarding some of the weasels at the top of MF Global with big bonuses.

Could it be because these exexs made sure that JP Morgan, a creditor, got its money out of MF Global before it sank, essentially ripping off millions of dollars of account holder money which sould have had first claim to any hankruptcy proceeds?

We are deep in Third World finance territory here guys. It simply doesn't get more corrupt.

Would you give the execs at MF Global a
big bonus...

AFTER they blew up one of the biggest and
oldest commodity trading companies on earth?

And illicitly removed over $1 billion from
segregated customer acounts?

Well, they're getting them, courtesy of
a backroom deal with JP Morgan, the bank that
ended up getting MF Global's "misplaced"
customer account money.

Video:

Capital market collapse Blow up a company, get a big bonus

Ken McCarthy
Real Econ TV

Moved article to

• Other Topics News and Issues