|Corzine tries to outrun |
his fleeced customers?
Not only did MF Global execs apparently pledge $700 million in clients' assets (including $80 million in physical gold and silver) in order to secure a $400 million short term loan, but they also reportedly paid out massive bonuses to themselves only hours prior to the official bankruptcy filing last Monday.
As if stealing $700 million of clients' assets to secure a short term loan wasn't bad enough, they also used them to fund golden parachutes for themselves.
Next we'll hear that the board also used client assets for high-end call girls for the company bankruptcy gala.
MF Global paid bonuses just hours before bankruptcy
Bonuses were paid to MF Global's UK staff just hours before the company filed for bankruptcy protection in New York.
Staff are understood to have received quarterly bonuses last Monday. It is not clear whether the bonuses were also received by staff in the US. (this just means that the US bonuses haven't been discovered yet)
The news is likely to anger those MF Global customers who have still been unable to access money they held with the broker. (um, you think?)
And again per Silvergood's request: