June 16, 2012
Don’t read this if you have high blood pressure or if you are a client of MF Global’s, whose money is still held by JP Morgan.
In the meantime, Jon Corzine was, is and will always be a free man.
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P.S. the topic of why China is buying the world’s biggest metals exchange, one which in a lovely harbinger of things to come 2 months ago very symbolically replaced Sterling settlement with Renminbi, is a different matter entirely. One which just may have to do with the fact that domestic Chinese companies have unprecedented stockpiles of everything, pledged as collateral everywhere. Collateral whose prices would be easier to manipulate if one also controlled the exchange where they all trade…
This article was posted: Saturday, June 16, 2012 at 1:59 am