Trader Dan's Market Views: 12/02/11

“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)

"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. Source – The Declaration of Independence

Friday, December 2, 2011

Registration of Shares

Dear Folks:

Please refer all inquiries in this matter to Jim Sinclair as this is not my area of expertise. I am a commodities guy and not an equity guy.

Thanks,
Trader Dan

A First Step in the Right Direction

Fox Business is reporting that the former head of MF Global has been subpoenaed to testify in front of a Congressional House Panel

Here is their lead in to the article:

Jon Corzine, the former head of bankrupt commodities brokerage firm MF Global, has been subpoenaed to testify about his role in the collapse before a congressional committee.
Corzine hasn’t been heard from publicly since MF Global imploded in October, the result of bad bets on European sovereign debt, a risky gamble reportedly pushed by Corzine himself.

Read more: http://www.foxbusiness.com/politics/2011/12/02/corzine-subpoenaed-to-appear-before-house-panel/#ixzz1fOoGfStV

Let's see where this leads. I hope it is just the tip of the iceberg as far as what he and his former firm reap.