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FBN’s Charlie Gasparino on a new report to be released by the MF Global Trustee that is expected to be the most definitive account of the bank’s l...
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-- sources are telling Fox Business Network that Capitol Hill is buzzing.
Not over the jobs report they're certainly talking about that but also over a new report expected from MF global bankruptcy trustee James -- Charlie Gasparino right here.
Com reports scheduled to be released I am told sometime Sunday.
Late Sunday early Monday it's going to be what it's been -- this way you know why I -- wanna see the proof in the putting.
It's going to be allegedly for the most definitive account on what -- with the money.
We -- the money is now.
And what are the efforts to get it back if if if at all we know that about 70%.
Of the customer money has been replaced this is a brokerage that this -- -- -- floated in October well I don't think we need to.
Real white rewrite history most -- -- -- MF global is but it is the biggest one of the biggest brokerage implosion -- where customers actually lost money.
One point six billion dollars is missing -- job is to get it back people -- to know why they don't have money you know we have an intern at Fox Business.
From a family farm whose.
Whose father lost money -- this thing this is this impacts average people and this report on Sunday will be the most definitive account what's -- -- about this as givens is making headway with with this with with his with his -- investigation.
Well we also hear is that.
Federal regulators particularly the criminal side they're pretty much stymied as to what to do.
This it's still up in the air whether they should give to treasure the person that was in the middle of all the funds transfers when the much more right before the money went missing.
Where they should give her Edith O'Brien community and interest from -- I understand is still kind of up in the -- We do expect the decision that shortly 11 way or the other but this is kind of an interest in store and I will tell you this.
There's not a single story I don't forget about the London -- loss.
Jobs report is huge obviously people care about -- but in terms of Wall Street.
What gets people's blood boiling is this because they see a firm run by someone who's.
-- very close to President Obama.
Jon Corzine a former New Jersey governor and US senator former head of Goldman Sachs ran this place.
Customer money was obviously not use for the right purposes we don't know if it's illegal there's there's questions about the but obviously it's missing.
And yet no charges.
No nothing.
Okay so this is a story that I tell I'll tell you gets people's blood boiling we're gonna get it's gonna -- back in the news.
Clearly Sunday night Monday morning.
Will be all over it and we'll see if we can advance the story on -- on where the investigation itself is gone.
Because that is driving people nuts that you know it it kind of listen.
Criminal -- is -- very difficult field you have to show intent a very high bar for attentive to put someone like John -- -- charge someone like.
Like Jon Corzine or anybody for that fact.
Yet it just it defies logic for a lot of people money is missing.
It's not supposed to be missing police according to Terry Duffy better than Chicago Mercantile Exchange which was the clearing -- -- was was the was who was where.
We're MF global trade basically that was their home that was our home exchange cause it's a commodities firm.
And guess what.
Nothing's been done since this thing would be told about this since November 1 of last year.
So that's -- we are we back in the news this -- you know Sunday night Monday morning it will be all over.
I don't know why anybody surprise Lehman Brothers Bear Stearns nobody got in trouble relating -- people and a lot of innocent people lost their jobs over those prohibit that was not.
You know one thing about Lehman Brothers.
And bear people customer money was not -- that's true that's true -- kept it together we Lehman Brothers.
Hedge fund money went missing because they moved it.
Two 22 your two in this final -- you -- but what would you move money across seas -- guess what you can use it.
And that's kind of what happened here that was -- for money not like some farmers money.
Charlie Gasparino morning news Sunday night Monday but I atmospheric that's what they're Thomas thank you Charlie.
