Howdy, This Here is the BS-Ranch, The Ranch looks after a small amount of land located in the Inland Empire, but we also take notice to Things that are going on in the Owens Valley. We Welcome to the Ranch Pasture, Barns, and Corrals! But, if your not minding your feet you will have a Smelly Mess to clean off your boots when you leave.. Have a good time I hope you enjoy Da' BS.Ranch!
Sunday, February 05, 2012
U.S. Farmers, Ranchers owed $100 Million by MF Global.. .by Cowboy byte Feb. 3, 2012..
U.S. farmers and ranchers who had accounts with failed broker MF Global have got back the bulk of their money but are still owed about $100 million, the Chicago Mercantile Exchange indicated on Thursday after announcing a fund to help them.
The $100 million is believed to be part of MF Global customers’ $1.2 billion in funds that remain missing after the chaotic flameout of the broker and marks the first time the amount still owed to farmers and ranchers has been quantified.
Thousands of MF Global clients have received about 70 percent of their money held in segregated accounts since the broker filed for bankruptcy on Oct. 31.
The CME on Thursday announced it would launch on March 1 a $100 million fund to protect farmers and ranchers who used grains and livestock futures markets operated by the exchange against fiascos like that of MF Global in the future.