•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

This article was written by Mark Melin, Chicago-based Editor of Opalesque Futures Intelligence and Opalesque Futures Strategies, with Bob English (with thanks to others who contributed):

Part 1 of the article can be found here: Source

Mainstream media starts to find the scent

It seemed that certain mainstream and alternative business journalists had begun to take an interest in the unusual circumstances of the case. But the pattern of deception over truth would eventually persist, apparently taking a cue from Trustee Giddens' early report about the back office.

Bloomberg’s Bill Rochelle noted the trustee’s report characterized MF Global management as simply having "lost control of the backroom. The left hand didn’t know what the right hand was doing. They were not recording transactions. They (MF Global back office) ordinarily sometimes took out customer money but replaced it by the end of the day, but as the company was collapsing they weren’t able to."

This characterization of MF Global back office behavior is noteworthy and requires critical examination.

W......................

To view our full article Click here