For investors and customers, PFG is MF Global all over again...

August 21, 2012 00:30
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More than $200 million in customer money is allegedly missing from the accounts of one of the largest, non-clearing, US futures commission merchants, PFG Best, according to regulators. Customers have been told their money is frozen. Does this sound oddly familiar? We hear from two clients, Christopher Olson and Mohamed Hawary.

MF Global went bankrupt less than a year ago taking $1.6 billion in customer money with it. We talk to a man fighting for MF Global customers about why he is having deja vu in the wake of this PFG news. John Roe, co-founder of the Commodity Customer Coalition, joins us.

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Comments (6)

Frank O'Phobe (unregistered) 22.08.2012 05:32

Am I missing something here or has some time machine taken us back in time to Tuesday, July 10th? This is not the first time that RT seems incapable fo providing the right links??

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Al (unregistered) 22.08.2012 00:12

Where is the Department of Justice?  They have their henchmen out handcuffing dimestore pickpockets while the likes of Jon Corzine and the rest of the grifters at MFG, PFGB, and Goldman Sachs no longer even qualify for a stern talking to. 

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Scott (unregistered) 21.08.2012 16:31

Yup, been warning my family for years, but I'm one of those (along with my family) who isn't in a position to hedge against what's coming.  I'll say it taking full responsibility... get ready for the second Great Depression... a run on the insolvent banks once people see their money isn't safe and hasn't been for years, hyperinflation as the money printing finally catches up with the consumer, a failing government unable to govern, unemployment through the roof and a lack of crops due to failure arcoss the country.   The difference this time is, the world will be coming with us.  I honestly don't see it taking more than a couple months if that.

I pray I'm wrong.  I hope I'm over-reacting.  I don't WANT to be right.  I'm afraid I am.

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