"Legal Stealing" - The Infamous CFTC Rule 1.29
A derivatives trader colleague of mine emailed the following regarding the MF Global Ponzi scheme:
"...MF Global has scared the bejesus out of most futures traders..."
"...the government is an accomplice because of CFTC Rule 1.29. It should be purged but the reality is the western world is becoming a banana republic, the rule of law including contract law is having less and less relevance in people's lives because everybody is breaking the rules starting from the government."
Here is a nice analysis of CFTC Rule 1.29 - better known as "legal stealing."
