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Re: justus
In Response To: Re: justus *LINK* ()

This why EVERYONE was warned to STAY AWAY from them!

Most probably have no pity on the customers, but stll hate what has happened.
But the customers actually agreed and signed to it? So what can others think?

From the MF Global customer agreement:

Section 7, MF Global Customer Agreement. Consent To Loan Or Pledge. You hereby grant us the right, in accordance with Applicable Law, to borrow, pledge, repledge, transfer, hypothecate, rehypothecate, loan, or invest any of the Collateral, including, without limitation, utilizing the Collateral to purchase or sell securities pursuant to repurchase agreements [repos] or reverse repurchase agreements with any party, in each case without notice to you, and we shall have no obligation to retain a like amount of similar Collateral in our possession and control.

MF global is practically telling you that they plan on levering up and they may not have the collateral to cover that leverage. And their customers agreed to that.

PLEASE everyone read BEFORE you sign!

The same thing AIG did.