Merrill Lynch Is Fined for Doing Nothing

Amazingly, it is claimed that MF Global's US customers were made 98% whole, after of course a long delay, and overseas customers 74% whole, see the end of the introduction of the Wikipedia article. But a near total loss was expected for a long time, and no doubt more than a little arm twisting was involved in retrieving the money, what we believed to be the denouement of MF Global was a grave threat to futures trading in the US.