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CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?

 
Anonymous Coward
User ID: 8471276
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01/09/2012 11:25 PM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
I dont understand the issue, but this news has been on twitter for over 8 hours... Not sure if it's as Doomy as we all hope...
 Quoting: The Conservative


From the CME site.

Helping the World Advance
As the world’s leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. We offer the widest range of global benchmark products across all major asset classes. [link to www.cmegroup.com]

There are trillions in derivatives parked at the CME,which it regulates internally.Break up the CME into an "investment arm and regulatory arm" and those derivatives will all of a sudden be looked at very differently.

Much as the nasdeq was broken up into market in regulator arms in March of 1991.

What do you think will happen to those trillions in derivatives when the regulators are not the same ones who placed them like they are now?
 Quoting: Anonymous Coward 8471276


In other words,this could possibly blow up most all derivative contracts world wide(600 trillion or so in total).

It very well could mean the end of finance,money,and trading as we know it today.
 Quoting: Anonymous Coward 8471276


HOw long will that take to happen? We talking days, weeks....month? Will the Doom be tangible?
 Quoting: Anonymous Coward 7221911


If they break it up. Hours to days or weeks.There would be instant chaos in the markets.No one would know where to put money,or if said money was safe.Who would regulate what,when,where,and how would be on the mind of every single person,corporation,trader,and bank in the world.

Derivatives would start to fail quickly because there would be no confidence in the system.Once they start to fail there is no stopping them.There is not enough money in the world or even in the printers to cover all the derivatives at the CME.Total collapse.Anywhere from a few hours to a few weeks.It really would be the most chaotic thing to ever happen in the markets.

A cascade failure in the derivatives market could very well result if the CME is broken up(it will eventually happen any way).

I am sure those regulators are well aware of this,but they are looking to punish some to big to fail banks for stealing over a billion from clients at MF Global.And they should be punished.This is taking the punch bowl and throwing it into the sea,and telling the to big to fail banks to drink up until all the punch is gone.

It is almost over at this point.
Anonymous Coward
User ID: 8471276
United States
01/09/2012 11:27 PM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Now on Barons.

[link to blogs.barrons.com]

The CME Group (CME) keeps slipping in after-hours after the exchange operator’s shares fell to their lowest levels since May 2009. The stock closed Monday off by 2.5%, or $5.76, to $228.24 a share. Most recently, they were sliding 0.11% in after-hours.

CME, which at one point traded just above $226 a share during the regular session, has been hit by its links to the bankrupt boutique MF Global (MFGLQ). Evercore became the latest to downgrade the futures exchange giant, telling clients that CME’s prospects are clouded by uncertainty. Also, the firm’s analysts pointed to the Fed’s stance on keeping interest rates at low levels amid sluggish economic growth in the U.S. as painting a less-than promising picture for the company.

...snip

Much more at the source.
eagleman
I LOVE NEWS

User ID: 8573547
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01/09/2012 11:55 PM

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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
This is big news however futures are up currently.
Anonymous Coward
User ID: 6594610
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01/09/2012 11:57 PM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Seems like this isnt really news.

More like wild speculation, based on no facts what so ever.
Anonymous Coward
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01/10/2012 12:17 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
wthread
One of We

User ID: 1610093
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01/10/2012 01:08 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
I can't find the link on survivalblog.com now but there was an interview with a trader who closed her brokerage right after the MF Global heist. She described the events as unprecedented in her many years of dealing on the COMEX and basically the COMEX froze trading while Corzine and his cronies looted the holding company. Now many individual investors who had money stolen by MF are getting "clawed back" by other institutions that got stiffed in the bankruptcy. So not only did they lose their money they had put up on their positions but they are being "asked" to pay it again to cover since that cash is gone. I guess you could say the COMEX has always been a confidence game but it sounds like the jig is up.....
"When most women carry guns, most rapists will masturbate alone in the dark." - Massad Ayoob
Farmergirl
User ID: 8562055
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01/10/2012 01:21 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
I can't find the link on survivalblog.com now but there was an interview with a trader who closed her brokerage right after the MF Global heist. She described the events as unprecedented in her many years of dealing on the COMEX and basically the COMEX froze trading while Corzine and his cronies looted the holding company. Now many individual investors who had money stolen by MF are getting "clawed back" by other institutions that got stiffed in the bankruptcy. So not only did they lose their money they had put up on their positions but they are being "asked" to pay it again to cover since that cash is gone. I guess you could say the COMEX has always been a confidence game but it sounds like the jig is up.....
 Quoting: One of We


I think you're referring to Anne Barnhart. She had an investment firm and closed it because she could no longer live with the risk of her client's money being lost to the corruption.

There are videos of her on YouTube.
One of We

User ID: 1610093
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01/10/2012 01:31 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Thanks homie!

"The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global.........."


Good read here:
[link to www.zerohedge.com]
"When most women carry guns, most rapists will masturbate alone in the dark." - Massad Ayoob
Divet Digger

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01/10/2012 02:09 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
So is the poop really going to hit the fan this time...or is it just a tummy rumble??? Who is tired of all the scammers in the world? We should bannish them all to an ice floe. "I'm not your friend buddy! I'm not your buddy pal! I'm not your pal guy!" One of my fave South Park shows. Bannishment to an ice floe!!! With supposed global warming they should drown in no time! I'm not surprized by anything anymore.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.--------- John Adams 1826
One of We

User ID: 1610093
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01/10/2012 02:20 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
So is the poop really going to hit the fan this time...or is it just a tummy rumble??? Who is tired of all the scammers in the world? We should bannish them all to an ice floe. "I'm not your friend buddy! I'm not your buddy pal! I'm not your pal guy!" One of my fave South Park shows. Bannishment to an ice floe!!! With supposed global warming they should drown in no time! I'm not surprized by anything anymore.
 Quoting: Divet Digger


I don't know but I think $1500 worth of rice, beans, and lead is more valuable than a Krugerrand right about now....
"When most women carry guns, most rapists will masturbate alone in the dark." - Massad Ayoob
Anonymous Coward
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01/10/2012 02:55 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
CME=Economic kill shot

verysad

.
Anonymous Coward
User ID: 8471276
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01/10/2012 03:33 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
So is the poop really going to hit the fan this time...or is it just a tummy rumble??? Who is tired of all the scammers in the world? We should bannish them all to an ice floe. "I'm not your friend buddy! I'm not your buddy pal! I'm not your pal guy!" One of my fave South Park shows. Bannishment to an ice floe!!! With supposed global warming they should drown in no time! I'm not surprized by anything anymore.
 Quoting: Divet Digger


It is prairie dogging it at the moment...could go either way.
Anonymous Coward
User ID: 8471276
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01/10/2012 03:37 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
So is the poop really going to hit the fan this time...or is it just a tummy rumble??? Who is tired of all the scammers in the world? We should bannish them all to an ice floe. "I'm not your friend buddy! I'm not your buddy pal! I'm not your pal guy!" One of my fave South Park shows. Bannishment to an ice floe!!! With supposed global warming they should drown in no time! I'm not surprized by anything anymore.
 Quoting: Divet Digger


It is prairie dogging it at the moment...could go either way.
 Quoting: Anonymous Coward 8471276


Prairie Doggin

v. The uncomfortable sensation resulting from fecal matter repeatedly pressing against the rectal sphincter and having to be squeezed back in; analogous to a prairie dog popping its head in & out of its burrow.
Anonymous Coward
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01/10/2012 03:38 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
WARREN BUFFETT,AND ALL HIS BANKS AND OIL COMPANIES SURE HAVE US ALL BY THE BALLS ! OBAMA GONNA BAIL CME OUT ? IF HE DOES HE WILL HAVE TO BORROW THE MONEY FROM BUFFETT.BERKSHIRE HATHAWAY,BOFA,WELLS FARGO,SHELL, ETC,ETC,ETC SEE THE CONNECTION ?
Anonymous Coward
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01/10/2012 04:05 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
WARREN BUFFETT,AND ALL HIS BANKS AND OIL COMPANIES SURE HAVE US ALL BY THE BALLS ! OBAMA GONNA BAIL CME OUT ? IF HE DOES HE WILL HAVE TO BORROW THE MONEY FROM BUFFETT.BERKSHIRE HATHAWAY,BOFA,WELLS FARGO,SHELL, ETC,ETC,ETC SEE THE CONNECTION ?
 Quoting: Anonymous Coward 3774185


If the derivatives market blows up,there is not enough ink in the world or enough 0s on a computer to stop the collapse.
Anonymous Coward
User ID: 527834
United Kingdom
01/10/2012 04:53 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
JP Morgan buys the market portion,and a big "nothing to see here" for the masses.

The regulatory arm would be purchased by Goldman Sacs,again a bit "nothing to see here move along".
 Quoting: Anonymous Coward 8471276


Agreed! But both the above companies are already huge black holes of finance. It is only a matter of time before they suffer the same collapse - then who gets to holds the bag?

We are surely at the end game. Nature is never fooled indefinitely.
Anonymous Coward
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Australia
01/10/2012 05:40 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
JP Morgan buys the market portion,and a big "nothing to see here" for the masses.

The regulatory arm would be purchased by Goldman Sacs,again a bit "nothing to see here move along".
 Quoting: Anonymous Coward 8471276


Agreed! But both the above companies are already huge black holes of finance. It is only a matter of time before they suffer the same collapse - then who gets to holds the bag?

We are surely at the end game. Nature is never fooled indefinitely.
 Quoting: Anonymous Coward 527834


it will only blow up if the stock ect price falls

that aint gonna happen its in everyones interest to prop

if it falls margin call mania and a fitch/sp/moodys downgrade would be certain dooom
Anonymous Coward
User ID: 8471276
United States
01/10/2012 05:49 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
JP Morgan buys the market portion,and a big "nothing to see here" for the masses.

The regulatory arm would be purchased by Goldman Sacs,again a bit "nothing to see here move along".
 Quoting: Anonymous Coward 8471276


Agreed! But both the above companies are already huge black holes of finance. It is only a matter of time before they suffer the same collapse - then who gets to holds the bag?

We are surely at the end game. Nature is never fooled indefinitely.
 Quoting: Anonymous Coward 527834


it will only blow up if the stock ect price falls

that aint gonna happen its in everyones interest to prop

if it falls margin call mania and a fitch/sp/moodys downgrade would be certain dooom
 Quoting: Anonymous Coward 1222831


it is falling.
[link to blogs.barrons.com]
Anonymous Coward
User ID: 8471276
United States
01/10/2012 05:50 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
JP Morgan buys the market portion,and a big "nothing to see here" for the masses.

The regulatory arm would be purchased by Goldman Sacs,again a bit "nothing to see here move along".
 Quoting: Anonymous Coward 8471276


Agreed! But both the above companies are already huge black holes of finance. It is only a matter of time before they suffer the same collapse - then who gets to holds the bag?

We are surely at the end game. Nature is never fooled indefinitely.
 Quoting: Anonymous Coward 527834


it will only blow up if the stock ect price falls

that aint gonna happen its in everyones interest to prop

if it falls margin call mania and a fitch/sp/moodys downgrade would be certain dooom
 Quoting: Anonymous Coward 1222831


it is falling.
[link to blogs.barrons.com]
 Quoting: Anonymous Coward 8471276


[link to quotes.barrons.com]
DonHeau (OP)

User ID: 1359307
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01/10/2012 10:12 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Nothing much happening today.
We opened doors by thinking.
Anonymous Coward
User ID: 2033927
United Kingdom
01/10/2012 10:23 AM
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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Seems like this isnt really news.

More like wild speculation, based on no facts what so ever.
 Quoting: Anonymous Coward 6594610


not only speculation, but the outcome is negligable to anyone other than CME Grou share holders. the markets on their *exchange* will either carry on trading in a reformed exchange or move to another exchange. there is others out there you know, and then there's OTC.

non-story.
tandym

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United States
01/10/2012 11:29 AM

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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
Right on schedule... Silver over $30 this morning.

Thread: SILVER DIP almost over... details inside -- Oops. Its over now for sure.
pool
Netizen Ribbonmind

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01/10/2012 11:39 AM

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Re: CME!!! INCOMING BREAKUP!!! MF Global Theft Leads to CME Breakup?
She had an investment firm and closed it because she could no longer live with the risk of her client's money being lost to the corruption.

There are videos of her on YouTube.
 Quoting: Farmergirl 8562055


"no longer live"
"no longer live"
"no longer live"
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