First up is commodities trader Stanley Haar, who states that there was a concerted effort by Goldman Sachs & JP Morgan to structure the bankruptcy classified as a securities bankruptcy, rather than a commodity brokerage bankruptcy, which then allowed JPM and GS to move to the front of the creditor line, bypassing customers.
Melin also interviews James Koutoulas, founder of the Commodity Customer Collation regarding his experiences protecting MF Global investors. Note in this presentation how essentially no one came to the aide of investors in early court procedures.
