Thursday, August 16, 2012

Damn You, Ace!

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.
I was saving this for the evening, but then Ace came and said everything worthwhile just in his title:
Good News: You Can Now Officially Steal $1 Billion From Your Customers And Avoid Proseuction, As Long As You're Hooked Up With the Self-Styled "Party of the Common Man"
but I wouldn't have misspelled  'prosecution.' As they say, read the whole thing.

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