Farmers slam MF Global bonus plan

  • Article by: JIM SPENCER , Star Tribune
  • Updated: March 12, 2012 - 9:27 PM

A bankruptcy trustee wants to reward the company's executives if they help locate $1.6 billion, some of it owed to Minnesota farmers.

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ejhickeyMar. 12, 12 3:49 PM

Everybody knows that the dice are loaded Everybody rolls with their fingers crossed Everybody knows that the war is over Everybody knows the good guys lost Everybody knows the fight was fixed The poor stay poor, the rich get rich That's how it goes Everybody knows Leonard Cohen

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rendahl14Mar. 12, 12 4:19 PM

I thought the legislature was going to prevent financial organizations from betting 30 to 1 on anything. MF Global made a bet worse than Lehman brothers (40 to 1 on European debt). Then, on top of that, they found a way to pay off some of their creditors with segregated (farmer and traders) funds. This is a horrific crime. It's not much different than Wells Fargo stealing all your money in your checking account to pay someone else off. There is a lot to be found here and the fact that little has been done to make these people whole since October is terrible. Remember 2008 when Goldman Sachs was owed money from the bankrupt insurance company AIG? Goldman Sachs was made whole with public funds almost immediately. Congress needs to do the same here and create a way to pay back these funds through small fees on futures until it is paid back to the public. Then, legislatures need to finally crack down on financial organizations that can greatly disrupt the system with oversized leverage. Or at least, not allow trading firms to also make investments, or something like that.

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sawmanMar. 12, 12 7:33 PM

"Everybody knows that the dice are loaded Everybody rolls with their fingers crossed Everybody knows that the war is over Everybody knows the good guys lost Everybody knows the fight was fixed The poor stay poor, the rich get rich That's how it goes Everybody knows Leonard Cohen".....................WOW!

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ranger78Mar. 12, 12 8:06 PM

Working farmers, etc., screwed by Corzine and the liberal sheisters at MF Global. Now Corzine's buddies are going to get nice fat bonus checks. Hmmmm, seems like a good resolution for a bankrupt company. Nicely done liberals. And no one is going to jail?

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ubetcha101Mar. 12, 12 9:27 PM

Where is Eric Holder our great attourney general? Probably concerrned about the rights of people in . Funny how no won has been indited for mortgage fraud! Interesting

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