Obligatory Words On MF Global – ZH’s Brilliant Score
November 1, 2011 § Leave a Comment
We all know what happened this morning. A little shop run by Mr. Corzine took the dirt nap. I’m personally surprised that a “meeting of the minds” didn’t take place, much like the LTCM bailout. However, these stories generally take time to digest, and many potential liaisons will likely be aired and questioned as to why the noble and diligent folks within the SEC weren’t alerted to the movement of funds. Or maybe not.
Regardless, there comes a time when a story is presented with absolute brilliance. It needs no further clarification, footnotes, or edits (at least for the time being). Well, that time is now.
As a caveat, I agree with everything presented in the following article, with the exception of the author’s sense that this will “[freeze] the money markets.” Lest we forget that we’re heading into an election year. If anything (given the information presented by ZH via NYT), further regulatory measures will be imposed, folks will go to jail, and Corzine will forever be marked as fraudulent.
With that being said, enjoy. And get ready for Barney Frank to piece together another useless piece of legislation.