dodd-frank and the pog, page-12

Tony

"Guess you didn't have a MFGlobal account or follow the saga."

You are right that I didn't have an MFGlobal account, but being a risk consultant who has advised central clearers on default management, I was watching the MFGlobal collapse very closely.

At the time there were lots of very unhappy MFGlobal customers who made wild, and ultimately unfounded accusations against JPM and the CME. This was ironic, because JPM and CME did as much as they could do to help them, within the limits of what MFGlobal's bad collateral management had left by way of financial resources.

Don't believer everything you see on YouTube.