global side will say well you like john corazon says i didn't authorize the misuse of customer funds of course you didn't say hey by the way can we misuse customer funds but that's not the point the funds were misused right and all of the lines in between and legalities in between will be what you know his side and what the customer side are going to be arguing but the reality is their money was misused it was used for margins it was used to proper credit lines it was taken before it should have been taken and it was used to back john cores science bets he made those bets he backed those bets when things were going wrong as you mentioned this was not just something that happened in the fall was already happening in the summer regulators were asking questions about the bets and corazon was basically saying to loot as some of his stewards were at the company that he's got it the things are ok that he's head in a lot of these positions and that everything will be fine and of course as we know that wasn't the case and more and more money got poured in from the company into the creditors

bombshell is i mean i guess it's good that now we know he thinks he can pursue claims against john corazon and some other executives for negligence and gratian fiduciary duty but the question is where is the customer money one point six billion dollars is still missing one report i saw someone thought that it could take six years to get it back anything in these reports to indicate where it is i read the reports i didn't see anything new there were a couple of. things like that a lot of people are reporting that in terms of facts in terms of actually who has the customer money we're not hearing anything new and they're not telling us they may have good reasons for that but it's satisfying and as far as. the trustee what else they insinuate about those counter parties which you say are really named there there is some confusion about whether or not the trustee could sue them because of safe harbor provisions could that come into play here well there's always the possibility that they can say with m.f. global in good faith that they were owed the money that they took the margin perhaps. legi

punishments whether we see clawbacks in that case or whether we see criminal charges in the case of john corazon or any of these actors at m.f. global that very well look like they stole customer money it looks like there could be criminal fraud charges or at least a case do you think we'll ever see that because you actually said that looking at another firm at sentinel where we have now seen a criminal indictment but you years later you compared them and you said yeah of course i could get charges just might take a long time sentinel is a case that's very similar to global much smaller scale they were actually a futures commission broker. visor that was their customers their customer base and when i talked about that in relation to global that he said well but there were mistakes and there were errors and there was a. commingling of customer funds with the house the codes but nobody was ever indicted nobody was ever charged you know these things happen and things get sloppy however five six years later now the same day the mortgage agreed to return some of the money some of the global's money a

look at bernie madoff he paid for his crime well he ripped off rich investors in his ponzi scheme john corazon ripped off a bunch of farmers a bunch of you know commodity traders and he walks a free man and there's no way they can find fraud criminal charges to press against him no one's to blame customer money still missing and oh no it wasn't stolen even though the law was broken in taking money from segregated accounts which is against the law i absolutely think you're so on to something there is a total different set of laws that apply if you are damaging the lives of very wealthy people with influence and capital both political and financial or when you're damaging people that don't have that same benefit and i think that you've given a couple of examples and and m.f. global and bernie madoff are just two more and that's one of these things too that you know like we keep in mind of this all the time before we go real quick we've also seen i guess because of the euro zone right everybody wants to buy of u.s. treasuries right now and like record debt is owned by foreign countries so any ins