This one is truly a mystery for the ages, when it comes to the farce/epic scam/massive crime scene that is the wake of MF Global’s implosion:
After Delay, MF Global’s Missing Money Is Traced
The New York Times
January 31, 2012, 9:42 pm
By BEN PROTESS and AZAM AHMED
Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts to recover the cash and pursue potential wrongdoing, people briefed on the investigation said.
While authorities have traced hundreds of millions of dollars to banks, MF Global’s trading partners and even the firm’s securities customers, investigators remain uncertain about whether they can retrieve the money.
[Really? They know where hundreds of millions of dollars are, and which banks have these funds, but remain unsure whether they can retrieve those monies? hmmmmm...]
**************
http://market-ticker.org/akcs-www?post=201420
Federal prosecutors unveiled criminal charges against three former Credit Suisse Group AG employees, providing a window into the way traders allegedly invented inflated values for mortgage bonds during the financial crisis.
Two of the three men pleaded guilty to criminal charges of conspiracy, admitting they attempted to conceal the scheme from managers in a bid to boost their bonuses.
…
One employee was captured on a taped call worrying that “someone is going to spot” the inflated prices, prosecutors said. When another employee told his boss he should book a large loss, the boss allegedly balked: “That’s a lot of money, dude,” according to a taped conversation cited by prosecutors.
“Wait a second… Taped call eh? From 2007 and 2008? Can someone please explain why it’s four years later when we’re seeing these charges?”
