Posted by paul on December 11, 2011 at 11:38:17 from (76.77.196.252):
In Reply to: OT: old employer 401.k? posted by Dave from MN on December 11, 2011 at 10:58:18:
The MF Global mess has made the flaws & cheating of most investmernt companies pretty visable, tho not many are looking....
When you sign up, you are signing fine print that allows them to take your money/ asset and reassign it as collatoral for any of their corporate loans. This is not well regulated.
Then the company uses this fund to play the markets. Some only do a little, some do a lot, but they do so.
When they guess wrong with large sums of money, as MF Global did, it all falls apart and your money is gone - beause they used your 'secure' account as collatoral for their playland.
If you don't know what 'hypothecate' means, the big firms do and they are using it.....
Unless you have stocks in your name, or bonds in your name, you probably don't have anything secure.... Nor do I.
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