Do you even know Corzine's political affiliations? Sheesh. The CFPB would just be another worthless agency that drains taxpayer funds, over-regulates the common man (e.g., Dodd-Frank) and lets the real culprits/TBTF types off via regulatory capture. Oh, and those of us who still care about the rule of law would rather not have yet another unelected bureacrap with unprecedented powers and virtually no accountability.
Agreed. Conversely, if he's worth several hundred mil, that strategy would be a tough one to pull off that way. I can imagine Albridge (wealth reporting through one consolidated statement) trying to work with that.:eek: I bet their eyeballs would pop out! lol
I understand all your points guys, I just don't understand the fear IF you trade equities. If you trade futures or other derivatives, well, you're playing with fire and need to protect yourself. However, if you're holding equities or cash, I don't see anything to worry about -- it will be a major hassle but you won't be ruined, furthermore, what are you going to do, put your cash under the mattress and let inflation steal your money instead of other crooks?
even if you put it in the bank,it better not be one with global investments,at least it would still be yours,lesser of 2 evils,you would still have several options,if they lose it ,you get in line with the mf global customers,if nothing happens,you can go back in,intact,we are all still watching the king has no clothes, eventually ,in that story, he realizes the truth
There is no guarantee your wire (instructed before bankruptcy) is not going to be clawed back in bankruptcy court.
until they close this loophole, and they can't without cutting off the above banks,they can posture and hold senate hearings, leave the door open for the rest of the cash to fly out,and unless this market miraculously turns,it will
I believe if you have a cash account (not margin) your securities are not supposed to be touched or lent out at all.