You are closer to MF Global than you think.

[cottonpicken]

I think Tom will only wake up when he himself has a
few hundred grand stolen.

Then he will scream "injustice" and "how could this
possibly happen".

I want to try to explain how big of a deal this is but i
would be wasting my time.

[Burbert]

I hope the GREAT DEPRESSION comes back for
everyone, except me and my family!!!!!!

[TOM4CWB]

Last I checked... the sun came up this morning.

People will be people... time marches on... there is 'Nothing new under the sun'.

There are much bigger fish to fry and contingencies to cover.

Like Iran and the impending war over oil in the middle east. It looks like Obama isn't afraid to pull the trigger... the great peace maker... isn't he complicit in the MF Global fiasco as well?

I think filling our fuel tanks... for spring work... might not be a bad idea before Jan 1!

Cheers!

Ideas don't mean much... if we don't plan and implement them...

By the way... I had a MF Global US account in 2009... and stopped using it.

SO I may have missed something... but what different was I supposed to have done?

[buzz]

That MF CEO Corzine is a greedy piece of
chit.

[oneoff]

Just because something doesn't affect you directly (this time) doesn't mean you should pick the opposite position to side with.

[TOM4CWB]

Oneoff,

OK... the contingency plan is:

1. Don't trade a US futures broker account. Clearly when we read through the MF Global warnings on papers... that had specific warnings about transactional and transborder legal exemptions... I read this past summer... anyone could see sticking with a Canadian Brokerage for futures/options trades was the only rational option.

2. Risk Manage with stable and reputable companies... that themselves are risk adverse and careful.

3. Banks and Grain Marketers that are backed by governments/agents properly within protections offered... within our own province... will be the least risky and most secure.

The only gaurenttee in life is death and taxes... Be frugal, careful, and if a deal sounds to good to be true... IT MOST LIKELY IS!!!

Happy New Year... and may all your risk management decisions... lower risk...NOT INCREASE RISK!

[Guest]

Good points Tom.

The problem is that MF Global was a reputable company...CEO gambled and lost.

The grain trade will pick up the pieces and go on but it will cost more money and trust levels have been lowered.

Everyone have a Happy New Year.

Moe