Minnesota farmer to testify before Congress on MF Global collapse
December 13, 2011 at 1:13 am in Grand Forks Herald
Dean Tofteland raises corn, soybeans and pigs near Luverne in southwestern Minnesota. He has about $200,000 tied up with MF Global. Continue Reading
It’s pretty easy to know what happened-derivatives and speculation.
Basically the same as what happened to the ND Teacher’s Retirement Fund and the Public Employees Retirement fund.
Only difference is this gets investigated and the retirement funds got quick excuses about the stock market and cover ups.
Still losing money on derivatives today despite an attorney general’s opinion that something with the volitility of derivatives would not fit the prudent investor rule. Still paying very high fees. Still stuck with almost worthless Arizona land bought after the real estate collapse for pre-collapse prices.
Haven’t heard lately how the “investment” of 160 million dollars in a company that didn’t exist is going.
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