Thursday, December 8, 2011

Corzine is a cockroach



My name is Foti Georgiadis and I want to explain to you today how your life can get turned upside down in a New York minute. One day you are living the dream, and the next minute you are thinking to yourself, what the hell do I do now? I woke up Monday morning at 6:30, to find out that my brokerage firm filed bankruptcy and were in a liquidation position. I didn't know how to react, I didn't know what to do. I immediately called another brokerage firm to transfer my account over, which I had securities in there and some limited amount of cash. I was in an all cash position, no margin, and I sat and I waited. They called me back and said that my ACAP form was rejected and that my account was frozen. What do you do in a situation like this, when you have all your life put in one brokerage firm that has been around for 100 years, called MF Global started from Man Financial? How do you trust the system?

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