Want to get mad? Read this…

Headline and sub-hed from WSJ article:

MF Global Still Set to Pay Bonuses

Executives Helping Trustee in Wake of Firm’s Collapse Could Get Hundreds of Thousands of Dollars

If you are mad after reading this, know that at least 95 comments join you in that opinion. Many readers called for jail sentences rather than bonuses. Many point out that all the players have connections to the Democratic Party and Goldman Sachs.

Advertisements

About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
This entry was posted in Basics, Economy, Politics and tagged , , , . Bookmark the permalink.

2 Responses to Want to get mad? Read this…

  1. RD Pierini says:

    Question, do you really think Corzine or anyone in their right mind, assuming he was of sound mind, would have invested so heavily in European Bonds without a heads up for a US Fed bailout from Bernanke or Paulsen. I certainly don’t.

    Bonuses should never be paid out during bankruptcies whether it is MF, Solyndra, Fannie/Freddie or anyone else. I can’t believe their aren’t companies who specialize in bankruptcy liquidations. Maybe a new startup?

    Thanks
    PS: My blog is https://savernation.wordpress.com

  2. IFO does not know of any companies that specialize in bankruptcies, but she does know that law firms do it. A judge usually appoints a referee to mediate, then distribute remaining assets to debt holders, usually at some fraction of what they are owed, sometimes nothing.

    As many here know, there is a hierarchy of debt holders, bondholders and share owners. The hierarchy depends on the language of the contract.

    Your question about Corzine is intriguing. True, he is deeply involved as an insider in the leftist political world in DC. But was he liked? We have no idea. And remember, the left has no problem whatsoever throwing people under the bus. Yes, the right does, too, but there seem to be more scandals on the left than the right, so maybe that’s why they seem to be more vicious to one another. The only more vicious world to have to operate in is the academic world.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s