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"The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Presenting The First MF Global Casualty

Tyler Durden's picture




 

Presented without comment, merely to confirm that the market as we know it, no longer exists.

BCM Has Ceased Operations (source)
Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.

The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.

I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt. While other firms may not be as heavily leveraged as Corzine had MFG leveraged, and it is now thought that MFG’s leverage may have been in excess of 100:1, they are still suicidally leveraged and will likely stand massive, unmeetable collateral calls in the coming days and weeks as Europe inevitably collapses. I now suspect that the reason the Chicago Mercantile Exchange did not immediately step in to backstop the MFG implosion was because they knew and know that if they backstopped MFG, they would then be expected to backstop all of the other firms in the system when the failures began to cascade – and there simply isn’t that much money in the entire system. In short, the problem is a SYSTEMIC problem, not merely isolated to one firm.

Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.

And so, to the very unpleasant crux of the matter. The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.

Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine.

Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.

To my clients, who literally TO THE MAN agreed with my assessment of the situation, and were relieved to be exiting the markets, and many whom I now suspect stayed in the markets as long as they did only out of personal loyalty to me, I can only say thank you for the honor and pleasure of serving you over these last years, with some of my clients having been with me for over twelve years. I will continue to blog at Barnhardt.biz, which will be subtly re-skinned soon, and will continue my cattle marketing consultation business. I will still be here in the office, answering my phones, with the same phone numbers. Alas, my retirement came a few years earlier than I had anticipated, but there was no possible way to continue given the inevitability of the collapse of the global financial markets, the overthrow of our government, and the resulting collapse in the rule of law.

As for me, I can only echo the words of David:

“This is the Lord’s doing; and it is wonderful in our eyes.”

With Best Regards-
Ann Barnhardt

 

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Thu, 11/17/2011 - 15:48 | 1888335 Everybodys All ...
Everybodys All American's picture

The only thing she missed is the complicit media.

Thu, 11/17/2011 - 15:48 | 1888336 DosZap
DosZap's picture

This even though horrible news, is music to my ears.

An HONEST man tells it like it is.

Calls a SPADE A SPADE.

And what we have for a Government is an Anathema

Especially within our HIGHEST leadership positions.

Thu, 11/17/2011 - 15:48 | 1888338 Calmyourself
Calmyourself's picture

Rush is reading from Barnhardt now..

Thu, 11/17/2011 - 15:49 | 1888339 TuesdayBen
TuesdayBen's picture

Fuckin right on getting that smiling clown Obooba out of office.

Thu, 11/17/2011 - 15:56 | 1888341 Ragnar24
Ragnar24's picture

Wow. I wish she'd reconsider so I could join her firm.

Thu, 11/17/2011 - 15:52 | 1888344 Michael Victory
Michael Victory's picture

in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.

tru dat.


victoryreport.org

Thu, 11/17/2011 - 15:51 | 1888345 The Count
The Count's picture

Yeah, we are all screwed. What else is new?

Thu, 11/17/2011 - 15:55 | 1888351 Hook Line and S...
Hook Line and Sphincter's picture

Paper Au headed dowwwwwwnnnnward! Sellers rule the market. Ignore-ant changos, vested in the old paradigm losing everything! Reptiles and birds copulating. PHYS strong hands lasting long enough to have to leverage the Pb in their portfolio.

Hey Phyzz, the paper loving counterparty has no fear now, and is dead serious about busting your door down with a swat team and taxman alongside.

Hook Line and Sphincter ( ! )J

Thu, 11/17/2011 - 15:53 | 1888358 i love cholas
i love cholas's picture

I like her letter but her website comes off a bit nutty.

Thu, 11/17/2011 - 15:59 | 1888411 FEARTHESHARK
FEARTHESHARK's picture

Nutty doesn't even begin to describe this right-wing religious zealot.  She's a fucking lunatic.

Thu, 11/17/2011 - 16:04 | 1888459 i love cholas
i love cholas's picture

Exactly! Opening her day with a prayer on her site?! Zh'ers are the first to call people sheeple but I believe Zh'ers are acting like sheeple right now.

Thu, 11/17/2011 - 16:06 | 1888473 zilverreiger
zilverreiger's picture

I fear so also, but lets consider that a hobby, she probably made a good call on this if there were no other pressing motives.

Thu, 11/17/2011 - 15:53 | 1888360 Tree of Liberty
Tree of Liberty's picture

Where is Robo?  Paging Momo Robo Stat

Thu, 11/17/2011 - 15:56 | 1888382 akak
akak's picture

Probably curled up around his keyboard in the fecal position --- as usual.

Thu, 11/17/2011 - 16:06 | 1888472 catacl1sm
catacl1sm's picture

"fecal poistion", I dont' know if that was typo or what, but I like it. Green arrow.

Thu, 11/17/2011 - 16:49 | 1888853 High Plains Drifter
High Plains Drifter's picture

its been a busy morning at the office with the 1099's and the occupy la movement...........

Thu, 11/17/2011 - 15:54 | 1888364 Westcoastliberal
Westcoastliberal's picture

KABOOM!
Truer words were never spoken Ms Ann and thanks for your outstanding integrity. Many of us share your point of view.

Thu, 11/17/2011 - 15:54 | 1888366 r101958
r101958's picture

3PM meltup time? -167 now. If the markets were down 500 or so then I might think this is something but -200 or +200 is a normal day now.

Thu, 11/17/2011 - 15:55 | 1888369 fuu
fuu's picture

So bullish right?

Thu, 11/17/2011 - 15:55 | 1888371 docmac324
docmac324's picture

Here, here.  I salute you sir.

Thu, 11/17/2011 - 15:55 | 1888374 BandGap
BandGap's picture

Rush Linbaugh just read this on his show.

The word is out, this isn't going to be an isolated event. 20 million listeners,

Thu, 11/17/2011 - 15:58 | 1888392 Clinteastwood
Clinteastwood's picture

heard that..........cool.............dittos to ZH.

Thu, 11/17/2011 - 16:00 | 1888416 i love cholas
i love cholas's picture

You listen to that hack?

Thu, 11/17/2011 - 16:01 | 1888428 Hook Line and S...
Hook Line and Sphincter's picture

He reads?

Thu, 11/17/2011 - 16:23 | 1888598 BandGap
BandGap's picture

Not a big fan but it's what gets played at work.

More importantly, 20 million people heard it.  That's the important part.

Thu, 11/17/2011 - 23:44 | 1890196 Cathartes Aura
Cathartes Aura's picture

20 million dittoheads.

Thu, 11/17/2011 - 15:55 | 1888375 dcb
dcb's picture

she's right that the market is screwed and corrput. but it aint the fault of that "marxist Obama". how about enron which was bush 2 largest donor. to single out one party Vs. the other shows a lack of understanding of the nature of the problem.

Thu, 11/17/2011 - 16:18 | 1888564 FEARTHESHARK
FEARTHESHARK's picture

Or just an extreme political bias that underscores everything she sees and says.  The idea that our financial system and market because corrupt in January of 2009 is such an unbelievable act of naivete or revisionism that the remainder of her opinion can easily be dismissed as garbage even when she has some things right.  This stupid bitch actually thinks that the president both manipulates and exploits the market, but is a Marxist.  Yeah, that's the ticket.  A corporatist Democrat is also a radical Marxist.  Only the lunatic fringe in this country (several of which appear to be on this thread) believe this kind of nonsense.

Thu, 11/17/2011 - 16:54 | 1888901 LFMayor
LFMayor's picture

You don't know sweet yet, you dipshit.

Thu, 11/17/2011 - 15:55 | 1888378 Logiclee03
Logiclee03's picture

Mila will be in NC for the Marine Corps ball on Saturday...good pic and 1 lucky guy will be her date>>>>HooHaaaaa

Thu, 11/17/2011 - 15:57 | 1888385 Vergeltung
Vergeltung's picture

this is one of the most powerful things I have read here on ZH. wow. Just wow.

Thu, 11/17/2011 - 15:57 | 1888391 FEARTHESHARK
FEARTHESHARK's picture

"the abject lawlessness and contempt for humanity of the Marxist Obama regime"

This statement alone demonstrates that Anne Barnhardt has little credibility.  Yeah, Anne, it's all the Marxist Obama's fault.  I'm sure things will be much safer under President Perry or Romney.

 

Thu, 11/17/2011 - 16:01 | 1888425 hannah
hannah's picture

SHE HAS SOMETHING YOU DONT....A PAIR OF BALLS. GO TRY AND GROW A PAIR....

Thu, 11/17/2011 - 16:08 | 1888489 Calmyourself
Calmyourself's picture

Fear the guppy and his fabian socialist bammy..  Come to think of it doesn't michelle keep bammy's balls in a box, a happy meal box hmmm..

Thu, 11/17/2011 - 17:17 | 1889054 spooz
spooz's picture

REEMemBER buzz word "FABIAN SOCIALISM"!  makes u sound SOoooo Smart!  Forget the fact that you know nothing else and can't point to all this creeping socialism.

The future I see is destruction of the middle class safety nets, soon to be coming to your neighborhood, and continued crony capitalism to support the new GOD, corporate profits. 

But keep your blinders on and keep listening to your fearless leaders on talk radio.

Thu, 11/17/2011 - 18:27 | 1889350 Calmyourself
Calmyourself's picture

Quit drinking the spooge spooz..  Cuz you are the SMARTEST guy here, you and only you could possibly know anything Fabian socialism or its origins you and you alone.. All hail the spooge..  You think none of us see the crony capitalists at work it is only sanctimonious idiots like you that do not preceive the game within a plan..  Your politics are showing, hike that skirt now..

Thu, 11/17/2011 - 19:28 | 1889589 spooz
spooz's picture

Nope, I only see your buzz words for what they are.  An excuse for the fascists to pillage the safety net.

Oh, and go palm yourself.  You'll feel better

Thu, 11/17/2011 - 16:17 | 1888521 flattrader
flattrader's picture

If she had real balls, she'd have used that gun by now.

She's a ridiculous poser (literally) as evidenced by her ridiculous photos.

Thu, 11/17/2011 - 16:56 | 1888911 LFMayor
LFMayor's picture

Do you own guns, big man, or are they all bad, even pink ones?

Thu, 11/17/2011 - 15:59 | 1888397 hannah
hannah's picture

ANN KICKS AS.S..!

Thu, 11/17/2011 - 15:58 | 1888398 Kaiser Sousa
Kaiser Sousa's picture

buy more stocks....right???

the monkey market is irrelvant...

keep stacking the Gold and Silver and enjoy the paper games...

 

Thu, 11/17/2011 - 15:58 | 1888399 OMG
OMG's picture

She does seem a bit on the crazy side looks ain't half bad need a back side shot. Notin that bama black snake can't fix.

Thu, 11/17/2011 - 15:59 | 1888406 Scalaris
Scalaris's picture

Fucking PengaTM* 

 *Ponzi Jenga

Thu, 11/17/2011 - 15:59 | 1888413 SHEEPFUKKER
SHEEPFUKKER's picture

Now go take your remaining money and buy treasuries.  Isn't that basically what she is saying. And nice biblical reference at the end.  

Thu, 11/17/2011 - 16:04 | 1888414 ebworthen
ebworthen's picture

AMEN.

Absolutely awesome.

Nice to see SOMEONE has moral fiber and guts.

"The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves."

You could say this about taxation, savings, investment, and the entire financial system.

The moral contract has been BROKEN.

There are fewer and fewer reasons for the average person to respect a contract, tax, or bill, as their right to property, to bonds, to their own savings and retirement, their rights as a whole - are being STOLEN.

Thu, 11/17/2011 - 16:00 | 1888418 zonkie
zonkie's picture

The markets are broken and rigged, they have been like that for a long time now. It is a sad fact. 

BUT did she really have any customer when she shut down? Who goes to Animal husbandry after a failed brokerage venture anyway?   I don't trust psychos (after looking at her background)

Thu, 11/17/2011 - 16:03 | 1888452 hannah
hannah's picture

"i dont trust psychos..."

 

she is a psycho but congress the bankers and the obobo are normal. no wonder we are sitting around in our own sh#t whinning about how no one takes a stand and when someone does we sh^t on them.....too funny

Thu, 11/17/2011 - 23:42 | 1890194 Oliver Klozoff
Oliver Klozoff's picture

LOL! That deserves a big green one!

Thu, 11/17/2011 - 16:00 | 1888419 iamtheeggman wh...
iamtheeggman whooooooooooooo's picture

Rush just discussed this article posted on ZeroHedge. Tip of the hat to ZeroHedge!

Rushalanche in 1,2,...

Thu, 11/17/2011 - 16:00 | 1888420 JohnFrodo
JohnFrodo's picture

I dont know if her rant is true, but she does have an axe to grind with Obama.

http://www.fstdt.com/QuoteComment.aspx?QID=83925

Thu, 11/17/2011 - 16:00 | 1888422 AndrewCostello
AndrewCostello's picture

People are all missing the reality.  Most of the world economy is a fraud based on stealing from future generations and savers.

 

That is where the real problem lies.

 

REad:

http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref

Thu, 11/17/2011 - 16:01 | 1888430 midgetrannyporn
midgetrannyporn's picture

Newt will straighten it out!

BREEHEEHEE!!

Thu, 11/17/2011 - 16:24 | 1888612 sabra1
sabra1's picture

i'm keeping an eye on newt! who the heck names their kid newt? was his father's name  knat?

Thu, 11/17/2011 - 16:39 | 1888757 midgetrannyporn
midgetrannyporn's picture

They should have named him Grab the Loot 'n Scoot Newt.

 

Thu, 11/17/2011 - 16:01 | 1888432 GCT
GCT's picture

WoW just WOW Limbaugh read this to his listeners and actually made some sense for a change.  He proposed an income tax holiday for a year to help the people.  I was floored!!  This will be big news tonight and he quoted he read it from Zerohedge and put out your site here!!  Get ready for the idiots to come out of the woodwork tonight!! 

Thu, 11/17/2011 - 16:27 | 1888635 topcallingtroll
topcallingtroll's picture

Limbaugh is a very smart man.

I have listened to him a few times. He is intelligent and witty. When people have no good responses to what lumbaugh says they resort to ad hominem against him and his listeners.

Thu, 11/17/2011 - 16:31 | 1888668 Vergeltung
Vergeltung's picture

exactly.

Thu, 11/17/2011 - 16:53 | 1888890 High Plains Drifter
High Plains Drifter's picture

right wing talk radio is a pacifier for angry amerikans to suck  on during the day which acts like a safety valve to diffuse the anger of the listener. quite effective actually.    a fat fag loser like limbaugh is good at what he does. 

Thu, 11/17/2011 - 17:01 | 1888948 LFMayor
LFMayor's picture

at least you got the safety valve part correct.  That also applies to politics. false hope straw for the drowning to cling to.  I don't agree with the queer statement though, I don't get the vibe he's a pillow biter.

iac, If he gets this message out to 20 million people and even 100 more start thinking about it than would have seen it without, it's a win.  I don't give a damn who johnny appleseeds the truth and wakes the masses up.

Thu, 11/17/2011 - 17:11 | 1888983 High Plains Drifter
High Plains Drifter's picture

well have you ever heard what his ex wife said?   that was wife number 3. she said that he never came to visit her much and she was made to live in her own house on the vast rush limbaugh complex in palm beach. hmmm, and then he gets caught with viagra in his baggage while coming from a trip to haiti.....etc etc and then a man who was in high school with him came forward a few years ago and said that he and rush were lovers at one time and that he knew for a fact that "rusty" would never ever get it on with a woman because he hates women. who was the singer at his wedding ?  elton john?    this woman now , she knows the contract. she is kept. it is ok with her. she is a beard, nothing more, nothing less.   shall i continue? 

Thu, 11/17/2011 - 17:20 | 1889066 LFMayor
LFMayor's picture

Do you have any ex wives?  I do.  You wouldn't fucking believe the transformation that takes place.  According to that bitch, I'm responsible for world hunger and every kitten that gets run over in the street.

no sale.

and are those Menudo cd's of yours telling us an untold tale?

Thu, 11/17/2011 - 17:29 | 1889130 High Plains Drifter
High Plains Drifter's picture

well let me ask you this. when a man has a job like his and he is told by certain parties shall we say, that they want him to talk about this and that on the radio everyday and he has this secret or two that he does not want to be known by the public because such information would be destroy him,  would such a man be easily controlled?    gay men who have not come out of the closet are ideal blackmailing targets........you see this guy talks about everything but the truth. he is pro war, he talks about those evil democrats all day, therefore misleading people about what the true problems are in this country and among other things, this is his job. i  figure they got him hooked on pharmaceuticals one day in the past and there was another situation this guy got himself into and had to explain his way out of. but the sheep are stupid and they forget. my advice to you. stay away from this man. do not listen to him. ever. do not listen to anyone on the radio. or television for that matter. it is all controlled  propaganda designed to mislead . 

 

Thu, 11/17/2011 - 17:49 | 1889226 LFMayor
LFMayor's picture

why would a gay not come out in this day and age?  That would be the perfect armor against any other allegations against him... being gay takes you out of the institutionally hated white male hetero category.  Not to mention that he could never be fired, sued, or badmouthed.  The pink pistols and dykes on bikes would have already been dispatched to your location if he'd outed himself in the past.

he'd have every reason to come out.

I don't care if it's controlled:  They fucked up this time and put out a shit ton of publicity to a web site that's not going to help them.  They're human and they make mistakes, this could very well be one of them.

Thu, 11/17/2011 - 20:36 | 1889781 blunderdog
blunderdog's picture

If you want to know why a conservative media pundit won't come out, ask Breitbart.

But as for Rush, I don't think he's gay, either.  I suspect something more like child molestation junkets in Costa Rica.

Thu, 11/17/2011 - 17:09 | 1889002 High Plains Drifter
High Plains Drifter's picture

 by the way sir, the last person in the world that will get any truth out would be rush limbaugh. if that was the case, he would not be getting paid all of the money is getting paid for doing what he does. tellers of truth are not on msm radio.....who owns rush limbaugh. the israeli government. check it out for yourself.  rush even said he has his on rabbi?  what does that mean?  you tell me...........shall i continue?

Fri, 11/18/2011 - 01:21 | 1890419 knukles
knukles's picture

I thought Limbaugh was an Irish name.

Thu, 11/17/2011 - 16:28 | 1888651 Peter K
Peter K's picture

When looking for those idiots, DON'T look in the mirror:)

Thu, 11/17/2011 - 16:51 | 1888870 JR
JR's picture

Limbaugh probably didn’t understand it and that’s why he read it.  Would Rush Limbaugh know what the futures market is all about? I don't see where he was able to squeeze it in between his two issues: Obama and Herman Cain.

Thu, 11/17/2011 - 16:02 | 1888439 i love cholas
i love cholas's picture

Meh, she had me until party politic agenda was tossed in there. Its not the fault of one single president the system is completely broken. If you're going to blame obama might as well toss the rest of the politicians in there.

Thu, 11/17/2011 - 16:05 | 1888465 hannah
hannah's picture

by that asshat reasoning corzine didnt bring MFG down.....you got the job, you own it....buck obooboo and get to work.

Thu, 11/17/2011 - 16:02 | 1888442 WineSorbet
WineSorbet's picture

3pm rumor?

Thu, 11/17/2011 - 16:03 | 1888450 PaperBear
PaperBear's picture

Are covered warrants still good ?

Thu, 11/17/2011 - 16:03 | 1888451 Caviar Emptor
Caviar Emptor's picture

But but but: the locked out MF Global clients need that money to shop!!

And shopping is what we do when the going gets tough!

Man, the Fed oughta know that: Give us some shopping money and we'll shop our way back to prosperity!! And have a little drink on Ben, grand wizard of collective delusions

Thu, 11/17/2011 - 16:05 | 1888460 NuYawkFrankie
NuYawkFrankie's picture

Any comment from Dick Handler?

Thu, 11/17/2011 - 16:27 | 1888643 ebworthen
ebworthen's picture

His hand is probably busy...

Thu, 11/17/2011 - 16:05 | 1888463 BeerGoggles
BeerGoggles's picture

The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity.

 

So, he's obviously short the markt then. Everyone's a crook in this game.

Thu, 11/17/2011 - 16:07 | 1888476 topcallingtroll
topcallingtroll's picture

Uuhh...is this bullish or bearish?
I think she has bipolar disorder.

But in crazy times only the crazies tell the truth.

Thu, 11/17/2011 - 16:08 | 1888486 midgetrannyporn
midgetrannyporn's picture

It isn't Corzine's political connections that keep him out of jail, it is his squid partnership status.

Thu, 11/17/2011 - 16:08 | 1888487 Zero Hero
Zero Hero's picture

Her article is an interesting and informative read. However, from some of her comments in it and looking at her web site, she sounds like a religious nut who's main aim is to suck up to her make-believe friend.

Thu, 11/17/2011 - 16:08 | 1888488 WTF_247
WTF_247's picture

Does anyone know how much this woman managed>>

 

Does anyone know her 5 year track record >>

 

Does anyone know if she was up or down this year?

 

I would be cautious to read too much into this.  Unless she is a respected manager or manages decent size, calling it quits means little to nothing.  While she does have some valid observations, the activity that is happening now has been going on for a long, long time.  It does not mean it should be, but its not new.  Its only brought into the light when things go poorly.  No one cared about the junk housing loans UNTIL they blew up.  When everyone is making money, no one does shit.

 

While I think we are in for a rough ride, I do not belive it will be doom and gloom end of civilization as we know it as many think.  If things do not change and government will not adress them then the people will one way or another.  BUT the government already has 1 ace up its sleeve.  If the people get too unruly, they will cut off internet access on all iPads and iPhones.  This would the the true disaster ...

Thu, 11/17/2011 - 16:13 | 1888525 Calmyourself
Calmyourself's picture

Your right, I know very little about you so nothing you say has any relevance or can possibly influence anything..  Hey, by the way any idea how Oboma's grades in college were? I need to know before his next speech..

Thu, 11/17/2011 - 23:25 | 1890159 spooz
spooz's picture

Partisan political tripe.  Obama sucks.  So do all the Republican candidates.  So?  Until a third party comes along we are disenfranchised.  You side with one or the other, you are part of the problem.

Fri, 11/18/2011 - 00:26 | 1890292 Calmyourself
Calmyourself's picture

Knowing what a candidate has achieved with his life, grades, business accomplishments, relationships with known terrorists, writings from his time at the Harvard law review are partisan tripe is that what you wish us to believe?

No man can be measured by his undertakings or his accomplishments, shall we measure their heads perhaps, hot on phrenology in addition to splooz are we??

THIS IS WHAT THE LEFT DESIRES IN PLACE OF REASON.   Ron Paul sucks as much as Obama, no gradients in your world I thought the left saw the shades of gray in our wrold only the stupid R's see black and white..  If you use history as a precursor to the future like a rational human you too are hyper partisan, read it over and over..

Fri, 11/18/2011 - 01:11 | 1890389 spooz
spooz's picture

hard to understand your rant here. punctuation would be helpful.

uh, I said earlier I would vote for Ron Paul, not because I endorse his ideas, but because his position on the fed would be a small step in the right direction. The lesser of evils.

When I said all the republican candidates suck, I was not including Ron Paul.  I heard the CNBC guy who ran the debates defend his giving Ron Paul less time because he's a libertarian and has no chance of getting the nomination.  He is totally marginalized by the Republican party and I also doubt he has a chance.

um, I think you need to do some reading instead of just listening.

Thu, 11/17/2011 - 16:14 | 1888534 MeanReversion
MeanReversion's picture

Exactly, while I may agree that there are serious systemic issues, Ann Barnhardt is a nobody and so is her brokerage.  This letter is the height of irrelevance given who it is concerning.

Thu, 11/17/2011 - 16:39 | 1888749 Calmyourself
Calmyourself's picture

Exactly and since none of us know anything about you, your history or track record of starting and growing businesses you should by your own reasoning shut your ignorant piehole immediately until you can prove you have earned OUR TRUST.

 YOU FLABBY REASONING ASSHOLE!

Thu, 11/17/2011 - 16:11 | 1888508 PaperBear
PaperBear's picture

Ann Barnhardt should head the CFTC.

Thu, 11/17/2011 - 16:12 | 1888512 Lord Welligton
Lord Welligton's picture

MF Global caught with its pants down.

Least we forget ..........

BAC transferred $75tn of derivative risk to depositors.

Why would anyone hold money with BAC?

Thu, 11/17/2011 - 16:13 | 1888519 Chuck Walla
Chuck Walla's picture

The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.

 

They can if they are pals of Obama. Or at least get a bailout from him, if needed.

Thu, 11/17/2011 - 16:14 | 1888538 Pengo
Pengo's picture

So, Obama created the derivatives market? I am a bit confused, or maybe its just because Im European. Dont care much for christ, sorry.

Thu, 11/17/2011 - 17:18 | 1889062 Totin
Totin's picture

Corzine bundled $933,000 (£572,000) for Obama and he is one of Obama's main conduits to Wall Street. MF Global is being investigated by the SEC & the FBI for misplacing hundreds of millions of dollars in customer money. Corzine will leave MF Global with a $12,000,000 (£7,620,000). The Obama / Corzine connection is just one part of a pattern of cronyism that we see in Obama.

 

The quote at the end was from David. David is in the Torah and the Bible. How did you come to the conclusion she was referencing the Bible?

Thu, 11/17/2011 - 16:20 | 1888555 Caviar Emptor
Caviar Emptor's picture

 

In December 2000, the CFTC agreed to amend Regulation 1.25 "to permit investments in general obligations issued by any enterprise sponsored by the United States, bank certificates of deposit, commercial paper, corporate notes, general obligations of a sovereign nation, and interests in money market mutual funds" -- in other words, riskier investments that could make more money for Wall Street.

Then, in February 2004 and May 2005, Regulation 1.25 was further amended and refined to the liking of Ferber and the banks. In the end, the door was opened for firms such as MF Global to do internal repos of customers' deposits and invest the funds in the "general obligations of a sovereign nation."


 http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/16/bloomberg_articlesLUQ75N1A74E9.DTL#ixzz1dzncw2E6

 

Just like with Glass-Steagle in 1998, rules devised after The Great Crash were dismantled because "this time we're too smart". And the Fed beleived it could have avoided the depression too

Thu, 11/17/2011 - 16:17 | 1888557 resaci
resaci's picture

 CC&G in Italy doin the same as MFG???

http://dealbook.nytimes.com/2011/11/17/banks-in-italy-find-an-unusual-liquidity-lifeline/

"Under terms of the deals, the clearinghouse, which acts as a middleman to guarantee trades between financial parties, is offering money to both Italian and European banks with a presence in Italy for up to three days.

The money, which comes from collateral that traders must put up to complete financial transactions, is deposited with the banks to cover shortfalls in liquidity. CC&G earns a profit by charging banks interest on the money that they borrow."

Thu, 11/17/2011 - 16:19 | 1888570 Cone of Uncertainty
Cone of Uncertainty's picture

This letter does not shock me, nor does it move me.

We are fucked and there is nothing anyone can do.

 

Thu, 11/17/2011 - 16:19 | 1888572 The Count
The Count's picture

Yeah, we are all screwed. What else is new?

Thu, 11/17/2011 - 16:20 | 1888582 Woodyg
Woodyg's picture

Sorry but the author loses me when blaming the obama admin as having done something different from the previous administrations.......

Kleptocracy Is and Has Been the norm for the last 30 freakin years

I guess he doesn't remember rolling blackouts and war profiteering ad naseum during the bush years - or the goddamn housing bubble and fraud therein?

Both parties are Criminal and all their members should be jailed under rico laws!

Thu, 11/17/2011 - 16:42 | 1888769 SwingForce
SwingForce's picture

Dude, read this again, " they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate."

In commodities, a -2% move could wipe out 100% of your equity- further, you could be trapped into taking additional huge losses against your will, this is acceptable? 

Thu, 11/17/2011 - 19:13 | 1889543 Woodyg
Woodyg's picture

Dude - 1st off buying futures or Anything with only 2% is Bullshit.

2nd - Don't ask for tears when a speculator get ripped off - I Absolutely LOVE it when the rich start to canabalize each other -

All I can say to them is - welcome to the club - Bitchez!

Thu, 11/17/2011 - 20:20 | 1889736 CrockettAlmanac.com
CrockettAlmanac.com's picture

How do you know that her clients are rich? Or are you part of the shoot first and ask question later crowd? What does it matter to you if folks lose their retirement funds as long as you get a good laugh imagining Grandma and Grandpa to be evil speculators?

Thu, 11/17/2011 - 21:36 | 1889906 Woodyg
Woodyg's picture

Grandma and grandpa shouldn't be buying futures on margin?

Neithr should Pension funds!

How freaking smart is that?

No wonder the entire world is drowning in debt and risk when people don't see the problem with that.

My original pont is the corruption in the Oilybombers admin is nothing new - and isn't only a democratic problem and the republicans are no less corrupt - hell even more so probably -

Ever heard of the Housing mess , fraudulent behavior safeguarded by the Bush admin that blew up the World econmy?

So sorry NO empathy for futures buyers.

Thu, 11/17/2011 - 22:01 | 1889970 CrockettAlmanac.com
CrockettAlmanac.com's picture

So you believe that those who chose to make what you consider to be risky investments should have no recourse against the criminal reallocation of their funds to corporations? Why do you believe that corporations have a right to obtain money in this way?

Fri, 11/18/2011 - 03:06 | 1890549 Woodyg
Woodyg's picture

No of course I don't - did you read my cooment that said Both Parties and their cronies should be arrested.

I'm just syaing Welcome To The Club of being ripped off, gouged, defrauded etc.....

The rich have Already gouged the masses and are now Turning on Each Other -

WHY act surprised or that this is happening.

Thu, 11/17/2011 - 16:23 | 1888585 Ura Bonehead
Ura Bonehead's picture


I’m not sure what sort of ‘book’ Ann carried?  Not sure it is important but it adds perspective. Additionally, (not to criticize) Ann has always worn her very middle America political opinions and strong Christian faith on her sleeve (with her blog activity, posts on other websites…) and this open letter certainly carries over with that theme. Her decision to mix the two (biz and personal opinion) is her right.  But still…

 

She is definitely sounding an alarm.

A note to Ann….  Ann, while I respect your opinion (and decision), I really think you are missing a key point.  I stay in the biz for the very reason you have decided to get out.  There just aren’t enough folks like you (assuming), I and others who put the interest of our clients first.  Can we look them in the eye and tell them the system’s fair, that it isn’t rigged, that the regulators are on the job??  Hell no!  Just the opposite.  But (just my opinion) they need independent/non-TBTF folks like us to trade independently, speak honestly and stand-up for their interests.

Thu, 11/17/2011 - 16:24 | 1888609 hannah
hannah's picture

how do you trade honestly in a fixed crooked crony market....oh wait you get a management fee and that is all that matters.

Thu, 11/17/2011 - 16:54 | 1888891 SwingForce
SwingForce's picture

Trade you said. TRADE? Did you miss this part: " they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate."

NOT being able to trade while locked into losing positions is, as Uncle Ted says:

http://www.youtube.com/watch?v=0c3d7QgZr7g  STRANGLEHOLD

Thu, 11/17/2011 - 16:22 | 1888592 Brokenarrow
Brokenarrow's picture

If you run with he wolves, sometimes you get bit.

If her positions were up big? She would be singing the praises of Tim Geithner, Big Ben, and Hankie Paulson.

When the whorehouse gets raided--they take the piano player, too.

 

Thu, 11/17/2011 - 20:07 | 1889706 t0mmyBerg
t0mmyBerg's picture

This is one of the many idiotic posts along the lines of "if her positions were doing weell then she wouldnt be crying.  Speculators get whats coming to them."  Which indicates you do not understand.  She was an introducing broker for hedging interests, farmers and ranchers looking to hedge their cattle and grain.  She takes a commission.  She does not manage their money or particularly care whether the positions go up or down, just that the people she represents are hedged.  She does care however if a demunist criminal like Jon Corzine crashes the firm and steals the client money (it would be like a bank who is in trouble taking the money out of the bank accounts - get it?).  In that case her clients hedges are frozen, or worse their collateral, which they need to operate their farming or ranching business, is frozen or gone.  And then when nobody seems to be prosecuting this thieving crony son of a bitch who is being protected apparently by his thieving crony sons of bitches pals in government, it raises your hackles something fierce.  Do you get it now?

bangpath.com

Thu, 11/17/2011 - 16:22 | 1888595 Yossarian
Yossarian's picture

Who is this Ann Barnhardt?  Appears to be some sort of political pundit- is she a financial mgr turned pundit or pundit turned financier?  Her operation seems fishy but the white-shoe operations that seem upstanding we know to be anything but.  

Thu, 11/17/2011 - 16:32 | 1888676 High Plains Drifter
High Plains Drifter's picture

yes this woman is fishy.   who is she?  who really knows?   one thing is for sure. she goes around all the time spreading total lies and complete disinformation about islam and 911 etc........

Thu, 11/17/2011 - 17:11 | 1889017 LFMayor
LFMayor's picture

now you're way off track.  Islam means peace, right?  When unwashed people are holding ullulating block parties and passing out candies because 3k people they would never have met get killed,  they're fucking wrong.  Just plain wrong.

Try to play nice, bring these underachievers food and medicine and technology for 60 years in what amounted to a global scale section 8 and EBT card give away and that's what they do... fuck like flies, spread their goddamn filth, mysogism, pedophilia and luddite fucking religion around. 

They need to fucking go.  

Thu, 11/17/2011 - 17:13 | 1889029 High Plains Drifter
High Plains Drifter's picture

ah huh, yes i see. i am way off track. yes sir. way off track............

Thu, 11/17/2011 - 20:23 | 1889748 CrockettAlmanac.com
CrockettAlmanac.com's picture

Islam means "submission to God." Israel means "he fights with God."

Fri, 11/18/2011 - 09:37 | 1890887 Pope Clement
Pope Clement's picture

I wonder when it was that everyone forgot that the El in Israel and the Islamic cognate andrip-off Allah once referred to the planet Saturn the original primal god of most of humanity. To paraphrase the Roman historian Tacitus 'the Jews are planet worshippers'. Of course the biggest Roman holidays were the Saturnalia too...Google Saturn Theory bitchezzz. Time to take all this religious gobblegook less seriously doncha think?

Thu, 11/17/2011 - 16:24 | 1888610 graymnzrc
graymnzrc's picture

Anne Coulter has the best blacks though:

http://www.youtube.com/watch?v=VVt7dRZLi_w&feature=player_detailpage

Funny thing is not even this will shut her up.

Thu, 11/17/2011 - 16:24 | 1888613 samsara
samsara's picture

Valid points and conviction BUT,  BUT.

The ENTIRE tirad about Obama'a admin is completely and uttlerly a false strawman to rail against.

I didn't vote for Obama(wrote in Ron Paul) BUT the SEC and every other regulatory agency has had the SAME staffs and SAME mandate for decades(at least a couple). 

The Regulatory agencies have changed in direction and leadership as much as the Fed or the Treasury has.  SAME EXACT MANAGEMENT whether Republican or Democrat.  This is NOT a this side vs that side thing.

Rubin was Clinton's man,  (or vice versa) and same with Summers and Timmy and Obama.

Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.
Benito Mussolini
Thu, 11/17/2011 - 16:46 | 1888826 JR
JR's picture

The reason she mentions Obama is because he’s President of the United States, right now, and this is happening at this exact moment and he has a bully puppet where he could at least address some of the problems and call for reforms. He has the floor. He’s the guy. And he’s not doing anything about it. These criminal proceedings are occurring in real time.  Why pick Clinton…? That’s over.  But we’ve got a live one in the office, right now.

Yes, we’ve had a line of crooks but she’s saying until Obama’s out and somebody else is in who will do something about it, she’s not going to be in!

Thu, 11/17/2011 - 16:26 | 1888624 hannah
hannah's picture

if someone comes to tell you your house is on fire....i wouldnt care what color her shoes are.....i would go put the fire out.

Thu, 11/17/2011 - 16:27 | 1888641 FoieGras
FoieGras's picture

Barn-who?

Sounds an awful lot like Allessandro Rastani.

Thu, 11/17/2011 - 16:28 | 1888647 High Plains Drifter
High Plains Drifter's picture

hey ann, why don't you briing your happy ass over here and mow my yard bitch...........

Thu, 11/17/2011 - 16:44 | 1888810 Calmyourself
Calmyourself's picture

I find myself liking your comments occassionally and then you kindly remind me what an ass you are, thanks I was daydreaming again..

Thu, 11/17/2011 - 22:11 | 1889994 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

The why it's name is really Huffpo Plains Drifter. Referred to as 'it' because HPD doesn't believe in gender.

Thu, 11/17/2011 - 16:29 | 1888660 JR
JR's picture

“Perpetual debt is bondage.”

The Federal Reserve used the 2008 Bank Panic to greatly expand its powers. One way was to allow primary dealers such as MF Global “a further competitive advantage by converting other, non-mortgage problem securities, into new money at low interest rates.”

Some estimates show that foreign ownership of the Federal Reserve Bank of New York is 40% or more, ownership by some of the biggest banks in the world, virtually all international companies. Thus, the Federal Reserve determines foreign policy and economic supremacy by not only underwriting loans within the U.S., but by underwriting loans intended for foreign governments, corporations and industries, and even world government.

The FRB-NY resells the Bonds through designated NY banks, the primary dealers, who charge hefty fees for the service. Along this route, the "U.S. Federal" (Private) Reserve System funds the economic growth of competing ideologies in such communist countries as Red China while simultaneously stunting U.S. growth and freedom.

Effective October 31, 2011, here are the primary dealers after the Federal Reserve Bank of New York terminated MF Global Inc.'s status as a primary dealer:

Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
SG Americas Securities, LLC
UBS Securities LLC.

Thu, 11/17/2011 - 16:31 | 1888674 tony bonn
tony bonn's picture

ann honey you made me cry when i read your beautiful denunciation of the criminal status quo whose current puppet is lying murdering evil sack of crap barry soetoro annointed by the lord to do evil....i loved especially your concluding observation...

god bless you!!!!!!!!!!!!!!!

www.obamacrimes.com

 

Thu, 11/17/2011 - 16:32 | 1888686 firstdivision
firstdivision's picture

Pushing Obama out will not solve this.  The entire system needs to be purged.  Starting with lobbying should be considered bribery.

Fri, 11/18/2011 - 00:29 | 1890298 Calmyourself
Calmyourself's picture

Before you bandage a wound, you clean out the dirt...  Otherwise +1

Thu, 11/17/2011 - 16:33 | 1888702 SwingForce
SwingForce's picture

And why is Corzine not been charged?

Thu, 11/17/2011 - 16:34 | 1888706 Cone of Uncertainty
Cone of Uncertainty's picture

SHIN THIS PIT

Thu, 11/17/2011 - 16:35 | 1888715 Republi-Ken
Republi-Ken's picture

Wowee Ann Barnhard-on is over the top.

Obama has corrupted -personally- in just 2.5 years

the entire options and futures market

and taken over wall street

with crony capitalism of one leveraged bet by jon corzine.

This is catholic conservative barnhard-on's rant without ANY EVIDENCE.

Oh thats right, Conservatives need NO EVIDENCE ANYTIME.

Thu, 11/17/2011 - 16:42 | 1888788 High Plains Drifter
High Plains Drifter's picture

she and her pink ar15 can kiss my ass , with her false patriotism .  she needs to rub her worry beads and shut the fuck up already.....

Thu, 11/17/2011 - 17:04 | 1888977 JR
JR's picture

Well, I can give you some biggies. Barack Obama promoted Timothy Geihtner to U.S. Treasury Secretary. You know, Geithner who was president of the FRB-NY, worked with Kissinger,  worked at the Treasury under Rubin and Summers, and was with the Council on Foreign Relations, the IMF, and the Group of Thirty. Then Geithner appointed as his chief of staff Goldman's chief lobbyist, Mark Patterson.

Barack Obama promoted Gary Gensler as Chairman of the U.S. Commodity Futures Trading Commission, the man who advocated and succeeded in deregulating Credit Default Swaps; the nan who served as Treasury Assistant to Robert Rubin and Undersecretary to Lawrence Summer, who had worked for Goldman Sachs for 18 years and made partner at age 30.

And, the man of "hope and change"  who inherited Ben Bernanke reappointed him.

As a start...

 

Thu, 11/17/2011 - 20:29 | 1889762 CrockettAlmanac.com
CrockettAlmanac.com's picture

Oh thats right, Conservatives need NO EVIDENCE ANYTIME.

Consider this evidence: One of Obama's cronies, a Mr. Corzine,  has stolen a half billion dollars from client accounts and neither Obama's Justice Department nor any other member of Obama's vast army of public servants has lifted a finger to stop Mr. Corzine.

What do you make of that? Is it George Bush or Millard Fillmore's fault that Corzine is not currently under investigation?

Thu, 11/17/2011 - 16:36 | 1888718 AchtungAffen
AchtungAffen's picture

Wow, this is one stupid financial manager. Blame it all on "marxist" Obama? My ass can't stop laughing... Obama a marxist... that's a good one. Contempt on the rule of law? What about GW Bush? Absolute confidence in the government? Do you eat fucking glass?

I can't believe people as stupid as this person are the moneyed ones. Is it a requirement for the big dough to be so dumb?

Thu, 11/17/2011 - 20:36 | 1889778 CrockettAlmanac.com
CrockettAlmanac.com's picture

So anyone harmed by Obama's refusal to act against MFG's current looting of customer accounts has no recourse due to the fact that several years ago there was a man named Bush in office?

Do you believe that ongoing criminal acts should remain unchallenged just because there have been other criminals in the past?

Fri, 11/18/2011 - 13:18 | 1891625 AchtungAffen
AchtungAffen's picture

>>Do you believe that ongoing criminal acts should remain unchallenged just because there have been other criminals in the past?

 

Of course not. But when all the blame for everything is thrown on Obama, accusing him of the same shit other presidents have been doing all the time, the hypocrisy kills the message.

Thu, 11/17/2011 - 23:53 | 1890220 spooz
spooz's picture

Not sure where these sheeple are picking up their propaganda since I gave up MSM years ago.

Fri, 11/18/2011 - 00:31 | 1890305 Calmyourself
Calmyourself's picture

Look it said sheeple, you are so tuned in to the vibe..  Admit it you watch a little Olberman, guilty pleasure.. hmmm

Fri, 11/18/2011 - 00:58 | 1890365 spooz
spooz's picture

trying to remember when sheeple entered my vocabulary.  must have been three years ago?  probably that db denninger was my first sighting.  but i got banned from his website.  called trump a teabagger.

but, no, I watch ratigan rant now and then, but thats it. a link to wsj, bloomberg, ft, even nyt, though i can spot propaganda a mile away.  you eat it for breakfast, as you palm yourself.

Thu, 11/17/2011 - 16:37 | 1888725 Roland99
Roland99's picture

does it matter if it's Obama or Perry or Cain or, if Obama gets primaried then whoever the replacement Dem is?

 

no.

 

Thu, 11/17/2011 - 16:40 | 1888758 hadriansnightmare
hadriansnightmare's picture

Apparently two of her six clients closed their accounts and she couldn't pay the rent? 

How big is this firm anyway?  Still, I agree with most of her wacko positions.  Nobody closes cause your making a killing.

Thu, 11/17/2011 - 16:44 | 1888801 High Plains Drifter
High Plains Drifter's picture

yeh she made a killing on wall street with cattle futures............but wait...........oh now i remember . hillary did that too one time a long time ago while she was working at the rose law firm in arkansas.......

Thu, 11/17/2011 - 16:40 | 1888759 Below Zero
Below Zero's picture

Poor girl. She needs to consult with a beaver whisperer and do some bareback riding for a while. Then she can cowgirl-up and come back with her ass-kicking boots on.

Thu, 11/17/2011 - 16:40 | 1888760 High Plains Drifter
High Plains Drifter's picture

numbnutts celente explains how he got burned at mf global. yeh right gerald, do as i say , not as i do. check pal, check a rooski.........dance with the devil dipshit and you get burned ...........moron.........get your ass off of the radio and shut the fuck up...........you don't even know what gold is you prick............good grief......ha ha ha 

 

http://www.youtube.com/watch?v=kt-mVWYvOm0&feature=youtu.be

Thu, 11/17/2011 - 16:44 | 1888811 Little John
Little John's picture

Got 308?

Fri, 11/18/2011 - 00:23 | 1890284 hannah
hannah's picture

f&ck 308! go with dirty 7.68x39....!

Thu, 11/17/2011 - 16:47 | 1888838 Invisible Hand
Invisible Hand's picture

When in the history of the Republic have bondholders' seniority not be honored?

When has the government armed criminals within our own borders to encorage murder for political reasons.

This is the most corrupt regime in modern American history.

Ann Barnhardt is a person of integrity.  Yes she runs a small business.  The only people with integrity in American business are small businessmen. 

You only want to listen to the big guys?  Which ones?  Madoff, he was huge!  Corzine, he has our Fearless Leader's ear still and he will probably never do a day in prison for his crimes.  I'll bet he is pardoned after the next election.  Goldman Sachs trades against their clients all the time, frontrunning their own client's orders.  The markets are a criminal enterprise.  Black pools, HFT, regulator capture, it goes on and on.

Wake up.  You're now either a con man or the mark.

 

Thu, 11/17/2011 - 16:48 | 1888844 Johnk
Johnk's picture

I too long for the good old days when George W. Bush was President, and everything was going just fine in America. 

Where's Phil Gramm when you need him?!

Thu, 11/17/2011 - 16:56 | 1888912 High Plains Drifter
High Plains Drifter's picture

yeh you are either with us or with the terrorist............

Thu, 11/17/2011 - 17:31 | 1889144 AchtungAffen
AchtungAffen's picture

Yeah, I remember those good old times of that ole time religion and moral values. I also remember how questionable laws were passed. But I know it's OK, the only one who has an utter contempt for the law is "marxist" comrade Obama, according to this fin. man. She has to be right, she has the moneys, right? right???

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