Tuesday, December 13, 2011

MF Global Cash at JP Morgan 'Presumed Its Own' So It Can Pay the Bankruptcy Trustees



So what is MF Global going to do with that $25 million in cash held in their account at JPM?

Presumably it will be used to pay the Bankruptcy Trustees and lawyers who decided that it belongs to MF Global and not the cheated customers whose accounts have been looted.

JPM apparently cut a deal with the Trustee saying they could have the cash if MFG granted JPM a lien on ALL the company's assets

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