Up until this point I have not commented upon the situation at MF Global.
Two recent articles highlight the current state of what appears to be known and unknown concerning the situation, including the potential of customers to “get their money back.”
These two articles are the January 30 Wall Street Journal article titled “Money From MF Global Feared Gone” as well as the January 31 New York Times article titled “After a Delay, MF Global’s Missing Money Is Traced.”
Overall, I find the events that have transpired at MF Global to be highly disconcerting, and they raise many questions about broader issues concerning financial institution and financial system integrity.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1325.81 as this post is written