News reports this morning are indicating that investigators are not likely to be able to track down what happened to nearly $1.2 billion in client funds at the bankrupt MF Global financial firm. They characterize the missing money as having been vaporized. Sorry, but that’s the wrong terms. It was …
Vaporized? No; the money was stolen from their accounts.
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Why do I believe MF Global executives transferred customer assets not cash to ‘house’ accounts?
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