Photo: Business Insider
This is a letter sent to bankruptcy judge Martin Glenn, who is handling the MF Global bankruptcy.The money line is bolded below.
In Re: MF Global, Inc.
Case No. 11-02790 (MG) (SIPA)
Re: The reputation of the United States
Dear Judge Glenn:
Our firm is a registered introducing broker with the CFTC. I have written to you previously on behalf of our customers.
Here is a comment this morning from one of our former customers in Europe:
“I will never do business in the United States of America again.”
The system to protect futures accounts is broken. And the whole world knows it.
What started as a failure of one FCM that quickly gave a black eye to the CFTC and especially the CME has now made our United States of America a very bad joke to commodity futures traders all over the world.
The problem this morning is not just excess margin equity.
The problem this morning is the reputation of the United States of America.
Thank you very much for your time and for listening.
Very Truly Yours,
HL Camp Futures
Original Signed by HL Camp