MF Global Feature

MF Global Report Points Out the Weak Spots

There isn’t much left out of the June 4th report from MF Global Trustee James Giddens “Report of the Trustee’s Investigation and Recommendations.” It’s a thorough 181 page (275 if you count all the charts and graphs at the end) Titanic journey of MF Global under Jon...

Self-Interest of a Customers’ Man

“John is looking out for his self-interest,” said a reader.  “John must be out money,” said another. It is often assumed that what motivates each of us is our own self-interest.  We could not take a breath without that being true.  We have to breathe. I am not without...

Competition is the Key

I believe in competition. We need competition in regulation. Creating competition in the Self Regulatory Organization sector I believe should be part of the plan to restore customer confidence in our markets. I started thinking about this as reports surfaced that the...

Pay Now or Pay Later

So far the number one voted-on question on FuturesCrowd.com is "The Number One Priority: Make the Customers Whole." I put that question on the site.  I have heard lots of people express this sentiment: that in order to restore customer's confidence in the futures...

This is No Bank Robbery

When someone robs a bank and gets away with the money, they have something fungible (cash) and easily hid. While the authorities may be able to trace the serial numbers on the bills as they start to show up in circulation, there are no other official records for the...

John Lothian News launches FuturesCrowd.com

Who wants to be a Millionaire? In the television game show "Who Wants to be a Millionaire," contestants have 4 choices on how to answer the questions.  They can answer themselves, or if they don't know the answer, they can use one of three lifelines to try to come up...

Special Report: House Agriculture Committee MF Global Hearing

This special report from the John Lothian Newsletter (subscribe here) includes the latest from the MF Global collapse, and the House Agriculture Committee meeting in which former MF Global CEO Jon Corzine made his first public appearance since leaving the firm several...

Apology accepted, now…

In an elevator in the Chicago Board of Trade Building in Chicago, one guy was speaking with another. “They ought to take everything he owns, sell it and add that to the money that he stole,” said the guy, referring to former MF Global CEO Jon Corzine. He paused for a...

Guest Commentary: How to Save the Futures Industry

Guest Commentary By Jeff Malec, CEO - Attain Capital Management: To say the MF Global situation is a mess may be the understatement of the century. What began as an excuse to extol the segregated account's safeguards against an FCM stock slide as MF Global shares lost...

Who Wants In?

On October 30th, the day before MF Global declared bankruptcy, I (John Lothian) wrote an email to some industry leaders expressing my strongly-held belief that there would be no deal to buy MF Global. The biggest reason was that there "has not been any player in...

Futures Seeing Blue

As regulators, exchanges and firms comb through the mess that is MF Global, its painfully clear that this industry needs some self-examination. One of the life bloods of the futures business has come from retail and individual traders who help pump in liquidity. One...

Extraordinary Times Call for Extraordinary Measures

Today the CME Group is expected to file with the SIPC appointed bankruptcy officials and federal authorities a plan for how to proceed with their part of the orderly liquidation of MF Global, specifically the movement of open futures and futures options positions to...

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