not sure where that 3B number in the Reuter's article came from. According to this it's 1.2B

http://www.tavakolistructuredfinance.com/MFGR.pdf

regardless of the actual number though, you have to ask, where was the CME in all of this, specifically, why didn't they detect the shortfall, and once detected, why didn't they make good on all outstanding balances? That's what their charter claims they do in the case of default. So why were MFG clients locked out of their accounts, and when said accounts were transfered, they got immediate margin calls?

Anyway, I'm not waiting for any more shoes to drop. Except for a few small positions in the juniors I'm out of the market completely and don't anticipate returning any time soon.

Enough is enough.

ebear