Wednesday, February 1, 2012

My Mommy Says It's Nice To Share. Mine Doesn't.

Here's something you may find odd. In the MF Global problem, an investment company that went bust and lost hundreds of millions of dollars of investor funds. It was run by a former New Jersey governor. Anyway, investigators have been trying to figure out where all this money went. Especially who got their hands on it. Okay, so there are three different investigating teams, well actually there are three federal agencies and two bankruptcy trustees, but the two trustees aren't sharing information because they are at odds as to who gets the money, if they can get any of it back. One team, we'll it team A, is trying to get that money back in order to pay creditors. Team B is trying to get the money back in order to refund the money to the folks who invested the money. So team A's lawyers won't share any information with team B in case they would get more of the money, I guess. The problem, of course, is that there isn't enough money to pay everybody. I think by a long shot. The big question is, who's team are you rooting for? Some folks, mainly business oriented folks, are cheering team A on so that the companies who are owed money can get these past due bills payed, while moneyed folks are generally hoping team B wins and returns the money to the folks who invested that money with MF Global, trusting that the firm would protect that money. So which are you, a shopkeeper or somebody with some money invested? Maybe some folks are conflicted because they have businesses and investments. What to do. Of course, there's a third, dark horse team, team C. Team C is all of the government agencies who are hoping to collect some money off any fines it may levy. Then again, there's another group that we can call team D. Team D is not in business, has no investments and is not the government. This team is just sitting back and thinking that at least this time it's not their money that everybody is after. In the meantime, somebody is living the high life with all those hundreds of millions of dollars. Which brings me back to team C. See, team C not only wants to collect some fines, it would like to fill some vacancies in their jails too.

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