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Larry,
Thank you....and Tom here are some facts....Steve Clemens does have special
trading accounts with different people...these are not the accounts of the regular
trader. Basically as of today and per the information from a person who is
management in LFG, Steve has incurred approximately $32 million in currency
trading losses. It was $40 million..and they were able to reajust the trading
position and recoupe $8 mil. LFG is still in trouble...and are in talks with
other companies for loans.
Since the trading funds of the regular customer is in seggragate accounts they are
protected, but should LFG go BK then I would be concerned as to who will be in
charge of the segragated accounts and is it possible for the courts to tie all
accounts up until the whole issue is resolved?
Mark Seflin
Zaitzeff@xxxxxxx wrote:
> Tom, I believe Mark stated the situation as it was: a fact; i.e., that there
> was news on the street about a problem with LFG. Do we want access to rumors
> (or is is simply early news)? I do. Perhaps the S&P is not a swayed by rumors
> as much as OJ and cotton, but then why “buy the rumor; sell the fact?” I know
> I can make a lot of money by early access to early news (and even rumors).
> One, - we may never know all the true facts; and situation/facts as reported,
> are all colored by our perceived sense of reality and biases and releases of
> news by many with particular agendas and/or conficts of interest, and/or legal
> restrictions.
> Larry Z. Seattle.
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