MF Global Money Still Missing

Two and a half month after the collapse of MF Global the $1.2 billion in customer accounts has not turned up. The money has been stolen and there is no nice way to say it. By law money in customer accounts must be segregated from the company's money but it wasn't and now it's gone and the most ethical administration with its inept regulators and corrupt Department of Justice has yet to offer the victims of this theft or the public an explanation. There is a theory on Wall Street that the customer funds were Madoff -ed. In other word the trades were never made but the profits from the fictional trades were posted in customer accounts as if they had been made. Why would MF Global do this? Here is CNBC's reasoning;

" The answer might be quite simple. The firm was in dire financial straits. It may have felt pressure to keep customers on board by showing how ably the firm managed their money. A scheme like this need not involve the entire firm—or even the senior management. If this is indeed what happened, a small group of rogue traders at MF Global may have been able to carry off the rouse for quite some time. Perhaps perpetually—if not for the bankruptcy at MF Global".

In any event if this were Halliburton it's a safe bet we would be hearing about this 5 nights a week on all three channels.