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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » Karl Denninger on MF Global and the Collapse in Investor Confidence

Karl Denninger on MF Global and the Collapse in Investor Confidence

Watch more Capital Account @ The German government has begun to prepare for a possible bail out of its second largest bank by assets, Commerzbank. Meanwhile depositors in the US have been pulling their money out of foreign-owned banks operating here, in what some call a “flight to safety.” As a result, these banks have seen the largest six-month fall in their deposits on record. Are these signs that a bank run is currently underway? Meanwhile, show me the money! That’s what lawmakers and customers have been telling MFGlobal executives to no avail. Jon Corzine , former CEO of the bankrupt MF Global was back on the Hill again today. And oh how things have changed over the course of the week, from when he first testified. Regulators now say they know where the missing money went. We know of course, the trustee has said up to $1.2 billion dollars of customer money could be missing. And CME, MF Global’s frontline regulator has said MF Global misused customer money, and the head of CME has now testified saying Jon Corzine knew the firm used customer money. And today this Jon Corzine said the back-office staff “explicitly” informed him that funds transfers made before the company filed for bankruptcy were legal. How much has changed from a week ago when Jon Corzine was basically pleading the fifth before lawmakers without pleading the fifth. Now the questions are of course – will customers get their money back, how did this happen, and

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25 Responses to "Karl Denninger on MF Global and the Collapse in Investor Confidence"

  1. barchers says:
    Why has hundreds of us viewers stopped getting our daily updates from the RT sites, please help.
  2. lgarvey1979 says:
    Shannon is working for the wrong outfit. She’d do better with Faux news.
  3. lgarvey1979 says:
    @mjtajik I couldn’t resist skipping to 11:04.
  4. shoeupon67 says:
    BREAKING NEWS -. BANK RUN -TRINIDAD AND TOBAGO WEST INDIES, REPUBLIC BANK, ROYAL BANK, FIRST CITIZEN BANK and SCOTIABANK thousand of customers simultaneously are withdrawing all their funds, fearing all the banks are going into bankruptcy and insolvency..[ Global financial meltdown].
  5. SuperFucktheusa says:
    The most informative financial news show in the world
  6. Stevie68000 says:
    Jew & Islamic Bond :

    1. Goldman Sachs tries to raise Islamic bonds ( called Sukuk ). The proposed bond issuance isn’t approved because the bond’s structure is fraudulent & not in compliance of Shariah standards.

    2. Kudos to the regulatory officers who blocks & prevents Goldman Sachs’ plan.

    3. Refer : Business week & Bloomberg dated Dec 21, 2011

    4. Goldman Scahs CEO, Lyold Blankfein is Jew

  7. bullshit3118 says:
    @RTProducer Another cocky diploma factory hotshot. Thank god you have Lauren to host the show. She has her shit together, you can tell. When I see you up there at the end of the show, I cringe. Seriously, that segment comes across like some horrible excuse for you to get some air time. It’s also like you just strolled in from some gaudy cologne commercial. Send me an email Demmy. Ill call you if you want at your corporate office or whatever it is. or are you all blogger fodder.
  8. bullshit3118 says:
    @RTProducer nice answer. very professional. very astute. I would expect you to counter my arguments but you try and draw me into semantic arguments. You don’t get me because I am forced to play the money game (like everyone else), but I know it’s bullshit and its very easy to see through. I dont like cookie cutter propaganda and dogmatic theory. This forum is way for me to voice my opinions. it’s the internet, why else?
  9. bullshit3118 says:
    @RTProducer Ok let’s use one example of why Von Mises is bullshit. he sees government controlled economies as a threat to free markets. NO ONE is being indicted by the government for corporate crimes. The SEC is dead in the sand. Sounds like a “free market” to me dont it? So why are you upset? there you have it, your unregulated free market system. From watching your show, it doesn’t seem like it’s turning out so well for you. It’s the law of the jungle, can you handle that?
  10. RTProducer says:
    @bullshit3118 i guess i just don’t understand guys like you. i don’t understand what motivates you to post.
  11. bullshit3118 says:
    @ashtavideo Yeah, that’s right…passion! Von Mises is a band aid to a serious problem. Yeah ok, so Von Mises did not like the government controlling the markets. he believed in less government control. So ok buddy, how have the markets been doing with the SEC at the helm. They do NOTHING. it’s a government institution. There you go, Von Mises in action. It’s a “free market” system. No government. Now we are all fucked. You get it now?
  12. bullshit3118 says:
    @RTProducer On what points? Bring it Demmy. Every asshole in banking industry, hedgefunders, and the like “leverage” their real assets to multiply gains and distort prices. Derivatives, fixed assets, borrowing money…yeah i know what it means.Dont get into a semantics argument with me hotshot. On what points was I wrong about Friedman and Von Mises. Explain yourself wiseass. You are a producer? I’ll sit down and chat with you any day. Von Mises a wolf in sheep’s clothing.
  13. RTProducer says:
    @bullshit3118 “Money is money and it leads to same abuse of power. The Von Misses theory is really same old shit for trendy young white collars.” that’s from your own comment. I think you suffer from anterograde amnesia. thanks for looking at my open collar. I’m sure you enjoyed that.
  14. bullshit3118 says:
    @RTProducer When the hell did I say “money is money”? lol and as far as the piss ants go…I have been saying piss quite a bit lately. ANYHOW, free markets dont exist AT ALL. More so, I get the feeling that selfish minded people use “free markets” as a way to validate being irresponsible sociopaths in pretty suits and ties. I say let the government print money, not the FED. I say, enforce rules already on the books to prevent monopoly. The only thing open and free is your collar. lol
  15. RTProducer says:
    @bullshit3118 No offense, but you have no idea what you are talking about. It’s obvious from your confusion about economics and finance in our conversation below about leverage. Instead of talking so much, try listening. Maybe I should produce a special word of the day for you. We have done leverage before, so maybe I should write some up for Money, Austrian Economics, Monetarism and Keynesianism.
  16. bullshit3118 says:
    @RTProducer Forgive me Demetri for the mispelling on the name, but the producer is the guy who brings these Von Mises types onto the program. Firstly, that makes you a cheerleader for that school of thought, it’s obvious. Secondly, I call them all Germans and I don’t give a rats ass about Austrian pride. Quit being my grammar school teacher and learn that Mises and Friedman are privatization capitalists that believe in free market THEORY. There ya go! Your answer!
  17. ashtavideo says:
    @bullshit3118 Wow, what a passion! )))
    Well, the problem is not the people running their own business. The problem is current corrupt financial system, international zionist banking system, military-industrial complex shaping government’s decisions and yes, state controlled, crony capitalism.

    Google: Do we really have to prepare for the Fourth Box?

  18. bullshit3118 says:
    @RTProducer Also, I don’t like the word “leveraging”, its short selling via price manipulation of silver and gold. See Max Keiser.
  19. bullshit3118 says:
    @RTProducer Do I have to spell it out? Who cares about deflation, it’s never gonna happen. Haven’t you read about the civil suits brought against JP Morgan and the COMEX for deliberately short selling silver? Deninger is making that argument (that the market is artificially manipulated) but to claim a 90% devaluation is alarmist. Also, I misread your comment about the FED printing money, my bad. But if you know the story of silver, it should not be a surprise at all whats going on.
  20. HorusNoon says:

    It’s not enough to say “Vote Ron Paul”

    In order for Dr.Paul to win, HE NEEDS THE PRIMARY. That’s the toughest part.

    IF YOU WANT TO VOTE IN PRIMARY YOU HAVE TO BE REGISTERED REPUBLICAN! If you don’t switch parties in time, (3 months ahead in some states from now) YOU WILL NOT BE ALLOWED TO VOTE!!

    Go to BLUEREPUBLICAN(dot)ORG and register ASAP! Copy and paste this everywhere! Thumbs up to help this be on top.


  21. CapitalAccount says:
    Everyone. I have noticed that some people’s comments get flagged or marked as span automatically when they are not in fact spam. I’m sorry if your comments have been removed in the past. When we see a comment that has been unjustifiably flagged and removed as spam, we will try and fix the problem.
  22. RTProducer says:
    @bullshit3118 I really don’t understand what you are saying or what you are arguing here.
  23. RTProducer says:
    @bullshit3118 Also, what do you mean by “money is money?” Maybe you could define this term, and then we can debate what money actually is, as I have spent some time contemplating it.

    And, pursuant to your previous post suggesting that people who want more free market capitalism are piss ants, I would ask you to explain why? What exactly do you feel the role of government is in the economy?

  24. RTProducer says:
    @bullshit3118 I’m not a “von Mises” cheerleader first of all. Second of all, there is no “von Mises theory,” and thirdly, he is not German (he was an Austro-Hungarian Jew who migrated to the US in his later years from Geneva, two years after the Germans invaded Austria). My name is also spelled Demetri, and I’m not a “trendy white collar” either.

    Now, comparing Ludwig von Mises to Milton Friedman makes no sense to me, but maybe you can square that circle for us?

  25. Stevie68000 says:
    Enemy of Greece,Ireland,Italy,Spain­­,UK & USA- Jew

    1.Goldman Sachs CEO,Lyold Blankfein- Jew

    2.IMF Deputy CEO,John Lisky-Jew

    3.Ex IMF CEO,Dominic Strauss-Jew

    4.World Bank CEO,Robert Zoellick-Jew

    5.Ex World Bank CEO,James Woolfesen-Jew

    6.Fed Chairman,Ben Bernanke-Jew

    7.Ex Fed Chairman,Alan Greenspan-Jew

    8.Obama Treasury Secretary,Tim Geithner-Jew

    9.Bush Treasury Secretary, Hank Paulson-Jew

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