“…MF Global: The Untold Story of the Biggest Wall Street Collapse Since Lehman…”

“…Only on Wall Street can you bankrupt a company;-

– misplace $1.6 billion of customers’ money; –

– lose 75 percent of shareholders’ money in two weeks;-

– speed dial a high priced criminal attorney – and get a court to authorize the payment of your multi-million dollar legal tab from the failed company’s insurance policies;-

– have regulators waive your requirements to take licensing exams required to work in the securities and commodities industry; –

– have your Board of Directors waive your loyalty to the firm; –

– run a bucket shop out of the UK; –

– and still have the word “Honorable” affixed to your name in a Congressional investigations hearing.

This is not a flashback to the rotting financial carcasses of 2008.

This putrid saga has been playing out in five Congressional hearings since December..”

(cont..)

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MF Global: The Untold Story of the Biggest Wall Street Collapse Since Lehman | Economy | AlterNet.

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