MF Global fallout delays U.S. farm seed, land deals

Comments (11)
Harry079 wrote:

These Farmers should sue the crap out of MF Global, the Regelators and the Brokers handling their accounts.

Why Corsine and his management team is not under arrest is just another testament to how corrupt this system is.

Some Den Mother steals $150.00 from the Candy Fund and the SWAT TEAM shows up with choppers and tanks. These fund managers steal $650 million and we can’t even interrupt their dinner.

Dec 06, 2011 11:41am EST  --  Report as abuse
xfiler93 wrote:

If Corzine was a repub, this would be 24/7 on the MSM and the liberals would be going nuts. But since he is a DEM and that Clinton is involved, time for the MSM to cover for them. pathetic beyond belief.

Dec 06, 2011 3:14pm EST  --  Report as abuse
Forzati wrote:

People think it’s lunacy to bring up the possibility of actual revolution but they aren’t listening to the conversations I am. What we are witnessing is criminal. Our government is a criminal enterprise and all Obama can do is whine about how he’s been unable to steal as much from the rich as he’d like. Blood in the streets is not at all out of the question as I see it.

Dec 06, 2011 3:30pm EST  --  Report as abuse

Where is Obama’s statement on the theft at MF Global? Where is Att. General Holder on the theft at MF Global. The entire futures market, stock market, banking system, Federal Reserve and the U.S. is one giant corrupt organism. The founding fathers would be up in arms…

Dec 06, 2011 6:36pm EST  --  Report as abuse
babe69 wrote:

There are Banking Cartels warring right now. — If they impact the grain farmers of Canada, the U.S., or Australia, famine and starvation may follow in countries far away, and maybe even near. Caution !!

Dec 07, 2011 12:41am EST  --  Report as abuse
DMHazi wrote:

The depositors are going to lose everything. That farmer is never going to get his $200,000 back.

According to the bankruptcy reform law passed in 2005, derivative claims are placed in front of depositor claims for business failures, including bank failures. MFGlobal is exposed to more derivatives than deposits.

Not only that, there is no way for the FDIC to insure everyone’s deposits. Even if 5% of every depositors money vanished it would equal the ENTIRE Federal Budget.

When are people going to wake up?

Dec 07, 2011 12:57am EST  --  Report as abuse
DMHazi wrote:

Did you know that depositors don’t get their money back in a bank failure like MFGlobal? And money that was withdrawn up to 90 days before can be given back to the bank to settle derivative claims. Its called clawback risk.

Dec 07, 2011 1:00am EST  --  Report as abuse
kay2861 wrote:

Xfiler93: you’re so right! I love how these articles never mention that Corzine was a Democrat senator, only that was a former CEO of Goldman Sachs. If he was Republican that would be the first thing mentioned. Also, no reference is given to the fact that Bill Clinton was a consultant for MF Global, and collecting $50,000/month from them.

Dec 07, 2011 8:00am EST  --  Report as abuse
lcky9 wrote:

DMHazi .. the FEDERAL GOVERNMENT does not HAVE a budget .. they haven’t since OBAMA took office.. WHY the REPUBLICAN’S haven’t jumped on this fact is beyond me it is an IMPORTANT one..
ALWAYS conclude IF they don’t bother mention the party affiliation that it is a DEMOCRAT.. I have done so for the last 3 years and have YET to be disappointed that the MEDIA failed to point out when the corruption comes from someone on the left.
The only ones who will be out in the streets shedding blood will be those that are to lazy to to go out and turn up whatever piece of dirt where they can plant FOOD to feed themselves.. FOLKS it’s sad that so many are uneducated and do not know that FOOD doesn’t grow in STORES..OR come in JARS.. With the GLOBAL SET up our GOVERNMENT on BOTH sides have set up for us rather than individual self reliant countries so FOOD..ENERGY.. ETC we are now living in a NANNY world.. EXACTLY what they have been trying to achieve since the 20′s.. We now have a bunch of corrupt babbling idiots running this country who all have degrees but not the common sense to wipe their rears after going to the bathroom.. and THAT would be on BOTH sides the isle.. and they OFFER more IDIOTS every election.. UNLESS we do something in the 2012 election the country will NOT survive to have one in 2016.. Something I NEVER thought I would ever say about my country..

Dec 07, 2011 8:45am EST  --  Report as abuse
Forzati wrote:

Both Corzine and Clinton should be in jail but since they’re so well connected to the crooks in Washington they’ll laugh all the way to the bank while those who lost money are left to pound sand.

Dec 07, 2011 8:59am EST  --  Report as abuse
cupasoup wrote:

It is criminal what this bank has done to these farmers and all of their customers. It is WORSE that the farming industry is FORCED to BUY their seed EVERY YEAR instead of using perfectly good seed from last year’s crop. That’s right folks, it is ILLEGAL for the farmers to use seeds from last year’s crop for this year. What a waste and a money grubbing racket.

Dec 07, 2011 10:07am EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.