Missing MF Global Money Apparently Found - But Is It Recoverable?

Good morning, readers! There was good news late last night as the New York Times reported (After a Delay, MF Global's Missing Money Is Traced) that most if not all of the apparently $1.2 billion missing from MF Global customer accounts has been found. The authors of the article, Ben Protess and Azam Ahmed, report that it remains to be seen, however, how much of that money may be recoverable and then returned to customers. One apparent reason for the delays and confusion has been the multiple layers of investigation:  there is one MF Global trustee, James W. Giddens, who has customers as his charge and another trustee, Louis J. Freeh, who essentially works for creditors. And of course the CFTC and Congress have been involved, too.

Unfortunately for both customers and for creditors, this case is far from resolved.