The following article from MFGFacts is a bomb shell. Read the article carefully to understand the nuances under which MF Global customers were thrown under the bus by the SEC and the CFTC.
"The article discloses how the CFTC and SEC, in a private meeting, robbed MF Global customers of the protections they deserved through a Chapter 7 bankruptcy under liquidation rules of the Commodity Exchange Act (CEA).
"Importantly, both CFTC Chairman Gensler and SEC Director of the Division of Trading and Markets Robert Cook knew exactly what they were doing — and both these men had significant conflicts of interest in favor of non-brokerage customer creditors and big law firms wishing to invade the integrity of the segregated funds process.
"Read this article and you will agree with my statements from the beginning of this tragedy that CFTC Chairman Gensler needs to tarred and feathered and removed from his position immediately.
"Congress has shown no backbone when it has the ability to force a correct resolution upon this tragedy.
How the CFTC and SEC joined forces to throw MF Global customers under the bus http://t.co/HHvFyQYS...