In what should not be too much of a shocker to anybody, disgraced Peregrine Financial Services Inc.’s founder Russell Wasendorf Sr. claims to have spent most of the missing clients’ money.  He blames the CFTC for being his “enemy” by fining his firm, and demanding higher capital levels.  Hopefully clients can get some of their...Read More

The disgraceful fall of PFG continues to fully evolve as CEO Russell Wassendorf signed a statement linking his suicide attempt to a fraud that he perpetrating stretching back twenty years.  Where was the CFTC or NFA in regulating this monstrosity, and why would anyone trust commodity futures without some form of SIPC insurance moving forward?...Read More

Every investor should know the process in the rare event that their brokerage goes bust.  For securities firms SIPC insurance provides tremendous stability and eases the mind of many investors.  It would be nice if the CFTC adopted the same form of insurance after the MF Global disgrace. http://news.morningstar.com/articlenet/article.aspx?id=542065 INVESTING IN THE FINANCIAL MARKETS INVOLVES...Read More

If this article is true and Corzine lied so blatantly in front of Congress than he is truly delusional.  It’s just another case of an individual acting as though the clients money that his firm is entrusted with is actually just his playpen. The CFTC needs to adopt SIPC insurance after this incident has exposed...Read More