MF Global Missing Money Mostly Found

[kpete]

WASHINGTON -- Investigators have located almost all the $1.2 billion first reported missing when securities company MF Global went under last year.

People briefed on the matter tell The Associated Press that the money has been tracked to other customer accounts and banks.

Investigators for financial regulators and trustees representing the company and its customers have been trying to track down the money. MF Global, headed by former New Jersey Gov. Jon Corzine, failed in October after a disastrous bet on European debt.

Brokerages are supposed to keep customer money separate from company funds. The people said the company misused the money to meet other financial needs as it collapsed.

http://www.huffingtonpost.com/2012/02/01/mf-global-missing-money_n_1247439.html

[Ruby the Liberal]

1. Wait - what?

Its 'missing' but still (mostly) inhouse? And this took months to decipher?

Something ain't right here.

[Chan790]

3. Bankers.

I swear if it wasn't tied to his wrist my former supervisor would misplace his lunch most days. He's the sort of fellow who says "We lost your loan paperwork, perhaps you could pay cash and when we find your paperwork we'll reimburse you." with a straight face.

[Tx4obama]

2. K & R n/t