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Jon Corzine's MF Global is Bankrupt

Jim — Thu, 03 Nov 2011 09:25:01 +0000

The global financial crisis took yet another turn for the worse on Monday. According to Yahoo! Finance:

MF Global's meltdown in less than a week made it the biggest U.S. casualty of Europe's debt crisis, and the seventh-largest bankruptcy by assets in U.S. history.

The chief executive of MF Global Holdings Ltd. is Jon Corzine. According to The Economist recently, Mr. Corzine is:

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CFTC Goes Cap in Hand to Obama. Dodd-Frank "In Jeopardy"

Jim — Wed, 29 Sep 2010 08:45:25 +0000

The CFTC has just released a brief statement by Commissioner Bart Chilton. We reproduce it here in full:

Landmark financial reforms were passed by the Congress and signed by the President earlier this year. The new law will ensure more efficient and effective markets, better protect consumers and cast light upon current "dark" markets that have been out of view of regulators — markets which led, in large part, — to the economic calamity that began two years ago.

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The Countdown Has Begun for the Retail Forex Revolution

Jim — Thu, 12 Aug 2010 11:04:04 +0000

After a variety of trials and tribulations along the way the Wall Street Reform and Consumer Protection Act, now officially renamed Dodd-Frank after its two sponsors, was finally signed into law by US President Barack Obama on July 21st. According to The Economist magazine:

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Barack Obama Criticizes US Regulators!

Jim — Thu, 21 Jan 2010 17:49:10 +0000

Fresh from his onslaught on retail forex traders, Barack Obama today took aim at another target instead. Those nasty, greedy bankers. According to Bloomberg Mr. Obama said in an interview with ABC that:

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The American Dream Moves Offshore?

Jim — Tue, 19 Jan 2010 13:19:11 +0000

When I started writing this blog in the Spring of 2009 I put forward the proposition that thanks to the advent of the internet and online retail forex brokers it had become possible for anyone possessing an entrepreneurial spirit, and prepared to put in the required effort over a number of years, to learn how to turn $1000 that they were willing and able to lose into a business that could support their family and themselves. I didn't say it was easy, but I did suggest it was possible. All that is about to change. It never was easy, and it looks like it's going to get ten times more difficult, for US citizens at least.

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NFA "Respectfully" Criticizes SEC Capital Requirements

Jim — Tue, 14 Jul 2009 14:18:27 +0000

In a recent letter to the Commodity Futures Trading Commission the National Futures Association commented on proposed further increases in net capital requirements for Futures Commission Merchants and Introducing Brokers.

Whilst the NFA:

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