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Apparently, when Corzine was told that MF Global was “going negative” in the account, that meant that the bank would be left with less than the minimum required “excess seg”. It did not mean, necessarily, that the bank was raiding customer money. And so when Corzine was told on the Friday evening that O’Brien was “net short $106 million”, that might have meant only that the excess seg was short $106 million, but that the customer money was still untouched.
2021-10-8 11:47:20 |
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