The best way to rob a bank is to own one
Value Hiker
11/12/2011 12:21:28 AM
The whole MF Global scandal is an inside job, no question about it. Like the 2008 crisis, Billions of dollars were robbed from millions of investors, yet there was not a single criminal convicted. No one was responsible for the whole crisis. What a wonderful world for these financial crooks.
Re: The best way to rob a bank is to own one
Bargain Bin
11/13/2011 1:23:52 PM
I hope you're wrong about that...I can't imagine the kind of backlash that would occur if it were true
Re: The best way to rob a bank is to own one
ProfR
11/13/2011 2:05:13 PM
I think the problem here is that this makes everyone involved look like a bunch of buffoons - we lost the money, we are looking for the money, not sure where the money is. Where are the regulators here? If this was money stolen from the local PTA funds, someone would be in handcuffs by now....
When was there ever confidence to be had...when was confidence ever not shaken? These questions are out there and need to be answered.
Re: Confidence shaken?
Jacob
11/13/2011 11:07:57 PM
“Enormous damage is being done to client confidence in the financial system and regulatory bodies”
Scott, you are very much right. Most of us blindly believe the fund house or portfolio managers by simple trust. We assume that they work for us and help us to get a better return from our investments. But in some of the cases, they simply play with our invested moneys.
Re: Confidence shaken?
ProfR
11/14/2011 9:29:04 AM
Jacob, I agree with you. The problem is what do you do about it? If I buy stocks based on recommendations from a brokerage firm, I am putting some faith in them that they will do what is best for me. If there is no one to trust, then all the money goes under the mattress...
Re: The best way to rob a bank is to own one
tokyogai
11/14/2011 11:36:06 AM
It really shows that we can not enforce the regulations we have. The answer is not new ones, but maybe get enough people to enforce what we have to avoid these kinds os messes.
Re: The best way to rob a bank is to own one
Scott Raynovich
11/14/2011 3:28:40 PM
Re: The best way to rob a bank is to own one
tokyogai
11/14/2011 3:42:04 PM
In spite of the rant, he makes some good points. I wouldn't want this guy angry at me!
Re: The best way to rob a bank is to own one
Bargain Bin
11/14/2011 11:34:22 PM
I feel horrible for that guy....it must be awful to have somebody squander your money for you.
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