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

MF Global: The Untold Story of the Biggest Wall Street Collapse Since Lehman | Economy | AlterNet: MF Global: The Untold Story of the Biggest Wall Street Collapse Since Lehman
There are plenty of lessons to be learned from MF Global, all of which we can count on Congress to ignore at the behest of Wall Street money until the next financial crisis.
April 20, 2012 |

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.