Ann Barnhardt describes herself as a an “an old-school commercial hedge broker specializing in CATTLE and GRAIN.” And she just shut down her business by delivering a passionate and chilling open letter posted on her website.
“I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not,” she writes. And then she unloads:
Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.
Read more here.
Small schoolchildren were forced to walk the gauntlet of frenzied Wall Street Occupiers just to get to school on Thursday. What’s worse, protesters reportedly screamed “follow those kids!” as worried parents tried to lead their children through the police barriers along Wall Street. CBS reports that the NYPD was thankfully there to help the kids and ease their fears — clearly a factor given that one protester did in fact follow a father and his daughter down the entire block.
“These guys are terrorists, yelling at little kids,” one father said.
“For them it’s horrible. They’re afraid of all the crowds. We’re not even able to get through. They’re just, he’s … very afraid now,” one mother said.
After school had concluded for the day, one 4-year-old boy could be heard telling his mother he was scared
“There was a parade. It was scary — crowded with school,” the boy said.
“After a while it got so bad some parents couldn’t get their children through and they had to go late,” said parent Gary Goldenstein.
Read more here.