The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter the morning of November 16, 2011.

In the wake of the MF Global bankruptcy, John Lothian Newsletter has created a special section on devoted to news, information and commentary. The section features archived news stories featured in the John Lothian Newsletter, analysis and breaking news. Check regularly for updates. See the MF Global news section here.

CME Denies ‘Moral Hazard’ In MF Global Customer Guarantee
CHICAGO (Dow Jones)–CME Group Inc. (CME) said Tuesday that a $300 million financial guarantee aimed to help stranded clients of MF Global Holdings Ltd. didn’t represent an implicit backstop for other firms that suffer a collapse.

Futures Exchange CME Knew of MF Global Fund Shortfall Before CFTC Was Told
Examiners from CME Group Inc. (CME) , the world’s largest futures exchange, found unexplained wire transfers at MF Global Inc. and a $900 million shortfall in client funds during the weekend the failing broker was talking with possible buyers, a person briefed on the matter said.

MF Global clients irked by trustee fees
By Jacob Bunge – Dow Jones
Customers with funds trapped by the collapse of MF Global Holdings Ltd. MFGLQ +23.96% could be hit with additional costs as the trustee overseeing the broker-dealer’s liquidation on Tuesday outlined potential costs for returning wire transfers.

Tiny Rule Change at Heart of MF Global Failure: William D. Cohan
Laurie R. Ferber has quite a resume. She is currently the general counsel of MF Global Holdings Ltd., the New York-based futures and commodities brokerage that filed for bankruptcy on Oct. 31, listing some $40 billion in liabilities.

Purgatory for MF Global Customers
As MF Global Holdings Ltd. was sinking in late October, trader Andrew Gochberg thought he was making all the right moves to protect himself if the securities firm failed. The 52-year-old Mr. Gochberg closed his trading positions at MF Global, leaving the entire balance of more than $1 million in what he thought was a protected account at the New York company.

MF Global: Where Did the Money Go?
When you’re a “Master of the Universe” like Jon Corzine, taking huge risks and betting billions of dollars on European government bonds is no problem-it’s fun! It’s what you do!

Senator presses CFTC on MF Global mess, seeks hearing
By Christopher Doering – Reuters
WASHINGTON, Nov 15 (Reuters) – Congress increased pressure on the U.S. futures regulator to sort through the mess left behind by the collapse of brokerage MF Global , and called for a hearing to examine whether proper market oversight is in place.

CFTC digs in at MF Global; customers organize
By Nick Brown and Alexandra Alper – Reuters
NEW YORK/WASHINGTON, Nov 15 (Reuters) – A U.S. regulator said he thinks “something nefarious” occurred at MF Global, deepening the criticism facing the fallen futures brokerage.

MF Global Chairman and CEO Jon Corzine Would Like to Invite You to a Lecture About Fiscal Responsibility This Evening
By Jessica Pressler
If you had a few free hours, and a time machine, you could spend tonight at a lecture hosted by MF Global, the brokerage firm that filed for bankruptcy two weeks ago.

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