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    REFCO Was ist da los??? - 500 Beiträge pro Seite

    eröffnet am 11.10.05 16:17:01 von
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      Avatar
      schrieb am 11.10.05 16:17:01
      Beitrag Nr. 1 ()


      Trading Halt.

      Was geht da ab?? ein paar Leute haben doch sicher ihre Konten dort??
      Avatar
      schrieb am 11.10.05 16:25:45
      Beitrag Nr. 2 ()
      Refco shares halted, day after huge drop
      Tue Oct 11, 2005 08:50 AM ET
      NEW YORK, Oct 11 (Reuters) - Trading in Refco Inc. (RFX.N: Quote, Profile, Research) shares was halted for pending news on Tuesday, one day after the futures and commodities broker put its chief executive on leave and said its quarterly financial filing with regulators would be delayed.
      Refco shares, which fell 45 percent in New York Stock Exchange trading on Monday, were up 6 percent in premarket trading on Tuesday before the halt.

      A company representative did not immediately return a call for comment.

      Refco said on Monday it had launched an investigation into $430 million it was owed by an entity its CEO had controlled.

      The company, which went public in August, is one of the world`s largest and most powerful commodities and futures dealers.
      Avatar
      schrieb am 11.10.05 16:33:46
      Beitrag Nr. 3 ()
      Thanks ooy.

      Das ist ganz und gar nicht ein kleiner Laden. Wenn das ding hochgeht.:eek:
      Avatar
      schrieb am 11.10.05 22:38:53
      Beitrag Nr. 4 ()
      Handfester Skandal bei US-Brokerhaus

      (10.10.05) - Der New Yorker Derivate-Händler Refco har heute seinen bisherigen CEO und Chairman Phillip Bennett vorläufig beurlaubt. Eine von Bennett kontrollierte Gesellschaft hatte Refco 430 Millionen Dollar geschuldet. Der CEO hatte es aber nicht für nötig erachtet, dem Unternehmen und den Aktionären mitzuteilen, dass er in einer Geschäftsbeziehung zu dem Schuldner stehe. Bennett soll die ausstehende Summe plus Zinsen heute zurückbezahlt haben. Refco entschied sich dennoch für seine Beurlaubung und will eine interne Untersuchung der irreführenden Verbuchungen durchführen. In diesem Zusammenhang geht das Brokerhaus davon aus, dass die Jahresberichte der letzten 5 Jahre hinfällig sein dürften. Zum Interims-Nachfolger Bennetts wurde der bisherige COO William Sexton ernannt, der eigentlich gerade dabei war, aus dem Unternehmen auszuscheiden.

      Das Brokerhaus Refco war im August erfolgreich an die Börse gegangen. Bereits kurz darauf war Präsident Santo C. Maggio vorübergehend außer Dienst gestellt worden. Diesem war von der Börsenaufsicht vorgeworfen worden, an Kursmanipulationen beteiligt gewesen zu sein. An der NYSE brechen Refco aktuell um 31,41 Prozent auf 19,59 Dollar ein und sind damit erstmals wieder unter ihren Ausgabekurs gerutscht.

      (Quelle: BoerseGo)
      Avatar
      schrieb am 12.10.05 08:24:48
      Beitrag Nr. 5 ()
      Scandal rocks New York brokerage firm

      · Refco chief executive owed company $430m
      · Accounts cannot be relied upon for accuracy

      David Teather in New York
      Tuesday October 11, 2005
      The Guardian

      The esoteric world of derivatives was rocked by scandal yesterday when leading futures brokerage Refco, which has substantial operations in London and New York, said it had discovered that chief executive Phillip Bennett owed the company $430m (£250m) and that none of its accounts dating back to 2002 could be relied upon for their accuracy.
      The disclosure is likely to increase calls for tighter controls of the high risk and often arcane financial instruments that have seen phenomenal growth over recent years in the City and on Wall Street.

      http://www.guardian.co.uk/business/story/0,3604,1589110,00.h…

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      Avatar
      schrieb am 12.10.05 11:49:20
      Beitrag Nr. 6 ()
      ...die frage ist, war´s das, oder kommt das dicke ende noch? man stelle sich vor meherer grössere häuser brechen die beziehungen zu refco ab usw... ansich scheint ja das ganze rein finanziell kein wirkliches problem zu sein, der vertrauensverlust ist allerdimgs enorm..
      Avatar
      schrieb am 12.10.05 13:24:31
      Beitrag Nr. 7 ()
      Man Financial und andere Broker wirds freuen wirds freuen.

      Vielleicht werden ja bei refco jetzt die Roundturns günstiger.
      Avatar
      schrieb am 12.10.05 14:39:24
      Beitrag Nr. 8 ()
      ...auf institutionellen niveau sind die eh recht günstig
      Avatar
      schrieb am 13.10.05 08:45:30
      Beitrag Nr. 9 ()
      Refco Ex-Chief Bennett Arrested for Securities Fraud (Update12)

      Oct. 12 (Bloomberg) -- Refco Inc.`s former chairman and chief executive officer, Phillip R. Bennett, was arrested by U.S. authorities and charged with securities fraud just two days after the company said he concealed $430 million in unpaid debts.

      U.S. prosecutors opposed bail for Bennett at a hearing in Manhattan federal court this afternoon, telling a judge that he posed a ``flight risk`` because he faces life in prison if he`s convicted. Assistant U.S. Attorney David Esseks said Bennett ``has an enormous incentive to go.``

      Bennett`s lawyer, Gary Naftalis, claimed there was ``no justification`` for his arrest. Esseks replied that Bennett, 57, was heard on tape Monday telling a colleague ``he was going to Europe in 48 hours, and that`s what prompted us to act as quickly as we did.`` Late in the day. U.S. Magistrate Douglas Eaton freed Bennett on home detention, ordering him to wear an electronic bracelet and post a $50 million bond, plus $5 million in cash.

      http://quote.bloomberg.com/apps/news?pid=10000006&sid=agq6oQ…
      Avatar
      schrieb am 13.10.05 14:45:20
      Beitrag Nr. 10 ()
      ...schade drum, scheint als würden einige grössere häuser refco verlassen. wenn auch die summe von $ 430 mio die firma nicht hätte umbringen können mittlererweile schauts allerdings nicht mehr so gut aus. es könnte die geschichte in europa auch noch ein paar kreise ziehen, der kredit sagt man kam ja von einer bank in mitteleuropa...
      Avatar
      schrieb am 13.10.05 17:52:54
      Beitrag Nr. 11 ()
      BN 17:32: refco sets moratorium on withdrawals at refco capital markets.

      ..schaut ganz schlecht aus!!!
      Avatar
      schrieb am 13.10.05 21:05:47
      Beitrag Nr. 12 ()
      Refco halts operations at unit

      NEW YORK (Reuters) - Refco Inc., the commodities and futures brokerage whose shares have fallen more than 60 percent this week, on Thursday said the liquidity at a major company unit is no longer sufficient to continue operations, fueling concerns about the entire firm`s survival.

      The latest news comes after federal authorities charged former chief executive officer Phillip Bennett with securities fraud on Wednesday over hundreds of millions of dollars in transactions owed to the company by an entity he controlled.

      Refco said in a statement it would halt activities at its Refco Capital Markets unit -- a fixed-income, equities and foreign exchange brokerage that also lends securities and acts as a prime broker -- for 15 days to protect its value.

      "This company is in serious jeopardy," said analyst Kevin Starke with Weeden & Co.

      Refco`s 9 percent coupon bond due 2012 dominated trading in the U.S. secondary bond market on Thursday as it plummeted to 52.25 cents on the dollar, from 75.5 cents on Wednesday, according to MarketAxess.

      It had traded as high as 108.25 cents on the dollar on Friday last week.

      "The fact that the bonds are trading at just above 50 cents on the dollar suggests that bankruptcy is at least a 50-50 possibility.

      When Refco went public two months ago and raised $583 million, Bennett and "others known and unknown" concealed related party transactions between Refco and the other undisclosed entity, according to prosecutors. This made the entire company look stronger than it was during its initial public offering.


      http://today.reuters.com/news/NewsArticle.aspx?type=business…
      Avatar
      schrieb am 14.10.05 09:45:41
      Beitrag Nr. 13 ()
      New York (Reuters) - Der US-Rohstoff- und Terminbroker Refco hat am Donnerstag die Geschäfte seiner Kapitalmarkt-Tochter wegen akuten Liquiditätsmangels vorerst gestoppt und damit Befürchtungen um den Fortbestand des Unternehmens geweckt.

      Die Aktie verlor allein in dieser Woche 60 Prozent ihres Wertes und wurde vom Handel an der Wall Street ausgesetzt. Am Vortag hatten US-Behörden Ex-Refco-Chef Phillip Bennett wegen Wertpapierbetrugs im Umfang von mehreren hundert Millionen Dollar angeklagt. Die Konzern-Tochter Refco Capital Markets ist in den Bereichen Renten, Aktien und Devisen tätig, verleiht Wertpapiere und handelt als Pirmärbroker.

      Das erst vor zwei Monaten an die Börse gegangene Unternehmen kündigte an, die Geschäfte der Tochter für 15 Tage auszusetzen, um deren Fortbestand zu sichern. Als Sonderberater habe das Unternehmen wegen der Finanzprobleme den früheren Chef der US-Börsenaufsicht SEC, Arthur Levitt und den ehemaligen Comptroller of the Currency, Eugene Ludwig, angeheuert. "Das erinnert fast an Enron", sagte ein Analyst mit Blick auf den in einem Milliardenskandal im Dezember 2001 zusammengebrochenen Energiekonzern.
      Avatar
      schrieb am 14.10.05 21:38:55
      Beitrag Nr. 14 ()
      NEW YORK, Oct 14 (Reuters) - Gold in New York tumbled 1 percent Friday morning, hit by fund and speculator selling, with traders liquidating holdings as oil fell and fears grew over trouble at commodities brokerage Refco LLC, dealers said.

      "The sell-off is coming from a lot of different places. Energy prices are lower, higher interest rates are hurting gold, and to some extent the uncertainty of Refco and all the funds," said George Gero, senior vice president at Legg Mason Wood Walker.

      NYMEX has been closely monitoring the activities of Refco LLC, a clearing member on both its NYMEX and COMEX divisions, it said late on Thursday. It added that all customer positions and funds held by Refco LLC were segregated from firm assets in compliance with Commodity Futures Trading Commission regulations and NYMEX rules.

      The exchange said it has restricted the withdrawal of any capital, including any excess capital, by Refco LLC, without NYMEX`s prior approval.

      "The financial surveillance and risk management staff at NYMEX has been and is still in continuous contact with the firm regarding its clearing member obligations at the Exchange," NYMEX said.

      Refco has halted activities at its Refco Capital Markets unit, a fixed-income, equities and foreign exchange brokerage, for 15 days and frozen its accounts.

      Benchmark gold futures reached their highest level since January 1988 on Wednesday, at $483.10 an ounce, before prices slipped into a minor tailspin...

      Gero said it was tough to see where futures might uncover good chart support because some traders had become motivated by the stream of news about Refco and were not thinking about technical indicators at the moment.

      Refco Inc. struggled to survive Friday as it began shutting down another unit and its bonds plunged further, fueling fears of a bankruptcy filing.

      Refco`s former chief executive, Phillip Bennett, was charged on Wednesday with securities fraud amid accusations he hid bad debts to dupe investors ahead of the company`s public offering, over hundreds of millions of dollars owed to the company by an entity he controlled.
      Avatar
      schrieb am 14.10.05 21:53:31
      Beitrag Nr. 15 ()
      Refco unnerves European investors but bourses calm

      LONDON, Oct 14 (Reuters) - European investors are increasingly nervous about the risks from the Refco scandal despite assurances from bourse operators that the influential firm and the markets it trades in are operating normally.

      Equity, foreign exchange, commodity and bond investors were paring back long positions on Friday to guard against the risk of a liquidity squeeze a day after U.S.-listed Refco froze client accounts at its Refco Capital Markets unit for 15 days, following the laying of fraud charges against former CEO Phillip Bennett.

      "When you have a situation in the manner of Refco the sensible thing to do is to reduce your risk exposure in case you do get hit with a margin call," said Mark Tinker, a director at Execution Stockbrokers.

      Bets on rising securities prices are often taken using derivatives -- a market in which Refco is a major global player -- which require investors to put up only a percentage of the total cost of the trade, known as the margin.

      The charges against Refco`s former CEO on Wednesday have highlighted the importance of counterparty risk, and the crucial role of reputation, in the often opaque derivatives industry, fuelling fears of a possible collapse of the firm and a liquidity squeeze.

      Risks of contagion are a particular concern for the $1.9-trillion-a-day foreign exchange market where transactions are largely made on an over-the-counter basis.

      ...hedge funds pared back long positions, preparing for possible margin calls in case of a liquidity squeeze which could trigger a downward price spiral.

      "If they don`t have the margin available they could be in trouble," a trader at a U.S.-based bank said.

      Hedge funds and other investors are nervous, but they expect any problems at Refco to be contained, believing that the authorities would not want panic to take hold and wreck financial stability.

      "Some people are talking about another possible LTCM (Long Term Capital Management) all over again," the trader said. "It`s nowhere near as bad ... Leverage is a fraction of what it was then."


      http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtm…
      Avatar
      schrieb am 15.10.05 09:17:30
      Beitrag Nr. 16 ()
      The Associated Press/NEW YORK

      Refco winds down its securities unit

      OCT. 14 8:44 A.M. ET Embattled commodities and financial-markets broker Refco Inc. is winding down the business of its regulated broker-dealer unit Refco Securities LLC, according to the company that clears the unit`s trades.

      The disclosure shows the trouble at Refco, the country`s largest independent futures broker, has spread beyond the unregulated unit the company shut Thursday due to a cash crunch.

      Refco Securities LLC, an indirect subsidiary of Refco Inc., informed Depository Trust Co. "that it will begin the process of winding down its business," DTC said in a notice on its Web site. "Refco, which is in full compliance with all of the DTC Participant requirements, remains in business for the purpose of winding down its outstanding positions. Refco has represented to DTC that, as of today, it will not be engaging in any new business except to the extent necessary to offset and effectively liquidate outstanding long and short proprietary and customer positions."

      http://www.businessweek.com/ap/financialnews/D8D7QGE80.htm?c…
      Avatar
      schrieb am 15.10.05 10:38:40
      Beitrag Nr. 17 ()
      Refco facing cash crisis as confidence slides

      Refco on Friday closed the rest of its securities business as the deepening crisis at one of the largest US futures brokers threatened broader market damage.

      Refco appeared on the brink of collapse, just five days after the disclosure on an alleged fraud by its former chief executive, Phillip Bennett.

      Its stock and bond prices have slumped amid mounting concern about its ability to survive.

      The crisis of confidence has led to an acute cash-crisis and raised doubts about the future of its derivatives trading business which has so far remained relatively unscathed.

      Regulators have signalled that its problems do not pose a threat to the broader financial system, but traders warned that the unwinding of positions in its securities broking arm could cause market disruption.

      This week`s slide in both energy prices and US stock prices may have been worsened by traders exiting positions held via Refco in order to protect their margins, said Peter Cardillo, chief strategist at SW Bach and Co. "I would like to know how many positions had to be unwound. Refco is a big company, it could pose a bit of a problem."The tabular content relating to this article is not available to view. Apologies in advance for the inconvenience caused.

      http://msnbc.msn.com/id/9698778/
      Avatar
      schrieb am 15.10.05 10:53:19
      Beitrag Nr. 18 ()
      Refco shuts down main business

      NEW YORK (Reuters) - Refco Inc. began shutting down its main business on Friday, as fraud charges against the former chief executive threatened to topple the largest U.S. independent commodities brokerage.

      New York-based Refco`s bond prices plunged to levels often associated with insolvency while trading in shares of the recently newly-listed company was on an indefinite suspension after the stock plunged 72 percent this week.

      "I don`t see how they`re going to survive this," said Michael Greenberger, a professor at the University of Maryland School of Law in Baltimore, who previously worked at the Commodities Futures Trading Commission.

      In the latest development in the deepening crisis, Refco Securities LLC, a broker-dealer that accounts for more than half of Refco`s gross revenues, said it was unwinding clients` and its own positions.

      When a brokerage unwinds positions, it means it is no longer taking new clients and is essentially going out of business.

      On Thursday Refco Capital Markets , a prime broker that served the hedge fund community, halted activities and froze all its accounts, saying it did not have enough cash to go on.

      "The customers and counterparties have apparently lost confidence in the creditworthiness of the company," said Tom Foley, an analyst at Standard & Poor`s.

      Share trading in Refco, which only went public two months ago at $22 a share, was suspended on Thursday with the New York Stock Exchange...


      http://today.reuters.com/news/newsArticle.aspx?type=business…
      Avatar
      schrieb am 16.10.05 10:07:17
      Beitrag Nr. 19 ()
      Is a new disaster hiding in Refco`s hedge?

      Hedge funds are out of control - will they strangle the world`s finances, asks Heather Connon

      http://observer.guardian.co.uk/business/story/0,6903,1592954…
      Avatar
      schrieb am 16.10.05 10:08:48
      Beitrag Nr. 20 ()
      Banks hit by Refco backlash

      Wall Street faces multimillion class action

      http://observer.guardian.co.uk/business/story/0,6903,1592936…
      Avatar
      schrieb am 16.10.05 10:10:25
      Beitrag Nr. 21 ()
      `Reckless` loans spark retreat from hedge funds
      London and Wall Street pull back from scandal-hit sector that has already been advanced over $500bn

      http://news.independent.co.uk/business/news/article319902.ec…
      Avatar
      schrieb am 16.10.05 10:11:50
      Beitrag Nr. 22 ()
      Waiting for the lights to go out
      We`ve taken the past 200 years of prosperity for granted. Humanity`s progress is stalling, we are facing a new era of decay, and nobody is clever enough to fix it. Is the future really that black, asks Bryan Appleyard

      http://www.timesonline.co.uk/article/0,,2099-1813695,00.html
      Avatar
      schrieb am 16.10.05 10:51:55
      Beitrag Nr. 23 ()
      UPDATE 1-Refco advisers meet to decide fate of company

      By Michael Flaherty

      NEW YORK, Oct 15 (Reuters) - Advisers for brokerage Refco Inc. (RFX.N: Quote, Profile, Research) met on Saturday in an emergency meeting to decide how to save the embattled company that is teetering on the edge of collapse.

      The advisers met to discuss what Refco units are salvageable and what units may have to file for bankruptcy, or be dissolved altogether, according to two sources familiar with the matter.

      Saving Refco`s main futures and commodities trading operation is the major focus, sources said. The company also has a broker-dealer and a prime brokerage unit, which were shut down this week.

      The meeting comes less than a week after Refco said it had put CEO Phillip Bennett on leave after discovering that a firm he controlled owed the company $430 million. Refco shares fell 45 percent on Monday, when the news was first announced. Bennett was charged with securities fraud on Wednesday.

      Refco shares plummeted on the New York Stock Exchange, where they are currently halted. Pre-market trades on Friday indicated Refco`s stock at $7.90, representing a 72 percent plunge from where its shares opened on Monday.

      Refco`s rapid unraveling reveals how important reputation is is for a securities firm, which depends on client confidence and borrowed money.

      Saturday`s gathering, sources said, included bankers at Goldman Sachs (GS.N: Quote, Profile, Research), Refco`s financial adviser; Board Chairman Scott Schoen of buyout firm Thomas H. Lee Partners, which owns 38 percent of Refco shares; members of the team formed by special adviser Arthur Levitt, the former U.S. Securities and Exchange Commission chairman; Grant Thornton, Refco`s auditors; and the various teams of attorneys hired to help the rapidly fading firm.

      The Commodity Futures Trading Commission, which regulates Refco`s futures operations, said late on Friday it had not asked other brokerage firms to step in and purchase any of Refco`s business units.

      "The CFTC has not asked any firm, Goldman Sachs or anyone else, to intervene in the situation regarding Refco," said CFTC spokesman David Gary.

      "Our agency is closely monitoring developments involving Refco," he said. "We continue to concentrate on our primary obligation of protecting the integrity of the market and the customer funds in Refco." Continued ...


      BANKRUPTCY FILING BEFORE MONDAY?

      The Saturday meeting followed a separate meeting on Friday held by Refco lenders to determine repayment. Bonds from Refco plummeted 17 cents on the dollar to 23 cents on the dollar on Friday, indicating that bond investors see a bankruptcy filing as highly likely. Friday`s lender meeting ended without a firm decision.

      Should Refco seek bankruptcy protection for any or all of its units, the company and its advisers are likely to mull whether to file before Monday, when stricter bankruptcy laws go into effect.

      An outside buyer scooping up parts of Refco is another possibility. Man Group`s (EMG.L: Quote, Profile, Research) brokerage unit, Man Financial, has expressed interest in buying Refco`s futures business, according to a source close to the matter, who added that various private equity firms are also showing interest.

      Determining the worth of Refco`s units is, at this point, nearly impossible, since most of Refco`s market value has been wiped out in the last five days. The company has also been losing clients and their money. In addition, the extent of the alleged accounting fraud remains unclear.

      Refco also faces mounting class-action lawsuits, which are likely to lead to high litigation costs.

      Refco`s commodities unit is the largest U.S. independent commodities brokerage. Refco Securities, LLC, which announced it was no longer taking new clients this week, is a broker-dealer that accounts for nearly half of the company`s gross revenues.

      Refco Capital Markets, a prime broker serving the hedge fund community, halted activities and froze all its accounts on Thursday. (Additional reporting by Tom Doggett in Washington)

      http://today.reuters.com/investing/financeArticle.aspx?type=…
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      schrieb am 16.10.05 10:55:08
      Beitrag Nr. 24 ()
      If Refco Isn`t Scary, What Is?
      Some say that there will be no financial market tremors emanating from Refco Inc., but it seems incomprehensible that a financial domino this big can topple without making a sound

      http://select.nytimes.com/gst/tsc.html?URI=http://select.nyt…
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      schrieb am 16.10.05 10:56:29
      Beitrag Nr. 25 ()
      Refco was a train wreck just waiting to happen

      Refco is a parable for our times. Its business involves broking layers of financial derivatives. But the man in the street would be amazed by the speed with which it collapsed and how a firm based on hundreds of millions of dollars of goodwill is worth nothing if a key member of staff plays foul.

      http://www.timesonline.co.uk/article/0,,2095-1827492,00.html
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      schrieb am 16.10.05 10:59:16
      Beitrag Nr. 26 ()
      Avec les malversations de Refco, Wall Street replonge dans le scandale

      Si faute de confiance des banques, des clients et de ses contreparties Refco fait faillite, les conséquences pourraient être sérieuses. Les clients du courtier (entreprises, banques, fonds spéculatifs) ont des positions évaluées à près de 5 milliards de dollars sur les marchés à terme de métaux, de produits agricoles ou de bons du Trésor. "Ce qui compte aujourd`hui est de savoir si on peut encore avoir confiance en eux. Si ce n`est pas le cas, tout va s`effondrer", prédit Robert Bushman, professeur de comptabilité à l`université de Caroline du Nord.

      http://www.lemonde.fr/web/article/0,1-0@2-3234,36-699501@51-…
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      schrieb am 16.10.05 11:01:04
      Beitrag Nr. 27 ()
      A Fast Fall: Refco was flying high; now investors have flown

      This isn`t just a story of a chief executive who has done wrong. It`s about a complete breakdown in corporate behavior that allowed the mishandling of the company`s finances to go on even as legions of bankers, lawyers and accountants pored over the books ahead of Refco`s successful August IPO.

      http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FM…
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      schrieb am 16.10.05 12:25:51
      Beitrag Nr. 28 ()
      Refco: ex-CEO`s debt dates to 1998

      "The real interesting story is, do people still trust them, because if they don`t their whole balance sheet will collapse," said Robert Bushman, a forensic accounting professor at University of North Carolina in Chapel Hill.

      http://chicagobusiness.com/cgi-bin/news.pl?post_date=2005-10…
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      schrieb am 16.10.05 20:06:28
      Beitrag Nr. 29 ()
      "If for lack of confidence of the banks, the customers and its Refco counterparts goes bankrupt, the consequences could be serious. The customers of the broker (undertaken, banks, funds speculative) have positions evaluated with nearly 5 billion dollars on the markets in the long term of metals, agricultural produce or Treasury bills. "What account today is to know if one can still rely on them. If it is not the case, all will break down ", predicts Robert Bushman, professor of accountancy at the university of North Carolina."
      Avatar
      schrieb am 17.10.05 09:31:33
      Beitrag Nr. 30 ()
      Bennett`s hidden life and frailties of Man

      Conal Walsh
      Sunday October 16, 2005
      The Observer

      http://observer.guardian.co.uk/business/story/0,6903,1592955…
      Avatar
      schrieb am 17.10.05 09:32:16
      Beitrag Nr. 31 ()
      Is a new disaster hiding in Refco`s hedge?

      Hedge funds are out of control - will they strangle the world`s finances, asks Heather Connon

      Sunday October 16, 2005
      The Observer

      http://observer.guardian.co.uk/business/story/0,6903,1592954…
      Avatar
      schrieb am 17.10.05 12:14:07
      Beitrag Nr. 32 ()
      lieber peter wedemeier - leider kann ich keine englisch - zumindest nicht so gut lesen und verstehen wie du .

      schön das du so viele artikel dieses doch äußerst spannenden themas hier veröffentlichst - nur ich habe keine ahnung worum es geht .

      da du der englischen sprache doch etwas mehr gebildest bist als die meisten hier anwesenden - wir untergebildeten jedoch auch diesen infoemationsvorsprung mit dir teilen würden wäre s von außerordentlicher wichtigkewit das du uns die hier dargestellten artikel wenigstens mal ansatzweise - oder wenn nur die überschrift - freundlichst übersetzen könntest.

      es wäre mir eine außerordentliche hilfe und gleichzeitig ine nicht zu unterschätzende diskussionsgrundlage.
      JA .

      merkst du nicht das auf deine psotings kein mensch reagiert .

      also lieber peter - streng dich mal an und übersetze uns wenigstens mal so ein paar leitsätze damitwir auch mal wissen worums geht.

      DANKE !!!!!!!! :cool:
      Avatar
      schrieb am 17.10.05 18:15:19
      Beitrag Nr. 33 ()
      ..tja man kann halt nicht alles können ;)
      Avatar
      schrieb am 18.10.05 08:39:05
      Beitrag Nr. 34 ()
      Refco in talks aimed at buyout

      http://www.businessweek.com/ap/financialnews/D8DA0BOG0.htm?c…

      Refco India asked to limit commodity exposure

      http://www.business-standard.com/smartinvestor/storypage.php…

      More scrutiny likely for finance firms after Refco

      http://today.reuters.com/investing/financeArticle.aspx?type=…

      Refco spurs questions on market oversight

      http://today.reuters.com/business/newsarticle.aspx?type=ousi…

      Refco underwriters to be sued: lawyer

      http://news.moneycentral.msn.com/provider/providerarticle.as…

      Class Action on Behalf of Refco, Inc. Shareholders Commenced by Paskowitz & Associates

      http://www.sortweb.com/cwsimages/Miscfiles/2116_pressrefco.p…

      mfg
      Avatar
      schrieb am 18.10.05 08:43:55
      Beitrag Nr. 35 ()
      JC Flowers group in lead to buy Refco futures unit

      http://today.reuters.com/business/newsarticle.aspx?type=tnBu…
      Avatar
      schrieb am 18.10.05 09:59:08
      Beitrag Nr. 36 ()
      Es ist gut, wenn man das Tradinggeld bei mehrere Banken/Broker hat! Ich habe Refco wg der Kapitalisierung (EK)für die sicherste Broker. Mit der Übernahme der Futuresparte hoffeich mein Geld wieder zusehen!

      gruss

      Cobraa


      Refco beantragt Gläubigerschutz - Bawag-Chef verteidigt Engagement
      Zwettler: Alle Normen eingehalten - bei Krediten muss manchmal rasch entschieden werden

      Refco-Engagement der Bawag sorgt für Aufregung
      Refco-Skandal trifft Bawag hart
      Kaum eine Woche nachdem Refco mit den Problemen rund um den früheren CEO Philip Bennett an die Öffentlichkeit getreten ist, hat der US-Rohstoff- und Terminbroker nun Gläubigerschutz nach US-Insolvenzrecht beantragt. Wie das Unternehmen in der Nacht auf Dienstag bekannt gab, wurde ausserdem mit einer Investorengruppe um die Beteiligungsfirma J.C. Flowers & Co eine vorläufige Vereinbarung über den Verkauf der Futures-Sparte für 768 Millionen Dollar getroffen.

      Refco erwartete eine endgültige Einigung in Kürze, allerdings sei noch nicht gesichert, dass es tatsächlich zum Verkauf komme.

      In einem Interview mit der ZiB 2 am Montag Abend verteidigte Bawag-Chef Johann Zwettler (im Bild) die Kreditvergabe. Die Bawag ist mit Forderungen von 425 Mio. Euro betroffen. Alle Normen seien eingehalten worden, zudem müsse bei Krediten eben manchmal rasch entschieden werden, sagte Zwettler. Die 425 Millionen Euro seien zwar "theoretisch der Maximalbetrag". Er gehe davon aus, dass nur ein Bruchteil davon zu tragen kommt. (bs)
      Avatar
      schrieb am 18.10.05 22:21:55
      Beitrag Nr. 37 ()
      Refco files for bankruptcy

      NEW YORK (Reuters) - Refco Inc. filed for bankruptcy and agreed to sell its core futures brokerage unit to an investor group for $768 million, a key step to help rescue the embattled commodities and futures brokerage from collapse.

      The developments late on Monday followed a week in which customers pulled assets out of the New York-based firm after Chief Executive Phillip Bennett was charged with securities fraud.

      Refco agreed to sell its main futures brokerage unit to a group led by private equity fund J.C. Flowers & Co. LLC, which is run by former Goldman Sachs partner Christopher Flowers.

      But the sale of the unit is far from sealed, with J.C. Flowers acknowledging there was no assurance a deal would be reached.

      ...Refco`s Capital Markets group, an unregulated business that handles over-the-counter trading of derivatives and other securities, is not mentioned in Monday`s press release. The fate of the business, which halted activity and froze accounts last week, remains unclear.

      ...Dubai Investments, an investment arm of the Dubai government, has hired Blackstone Group to advise it on a potential $1 billion acquisition of the entire company, a source close to the matter said on Tuesday.

      http://yahoo.reuters.com/newsArticle.jhtml;jsessionid=BZ1NUT…
      Avatar
      schrieb am 19.10.05 10:02:46
      Beitrag Nr. 38 ()
      Also REFCO hat gläubigerschutz nach chapter 11 beantragt für den mutterkonzern und seine 28 Sparten

      Die Aktie verlor gestern rd. 91% auf 0,61 $ :eek::eek:

      DieFuturesparte wurde für 768 Millionen dollar verkauft.

      somit kann man sagen

      REFCO ist fertig.
      Avatar
      schrieb am 19.10.05 11:47:49
      Beitrag Nr. 39 ()
      Hallo, kann mir einer die Frage beantworten was mit den Geldern geschieht, die auf den Tradingkonten der Refco liegen (Kundengelder). Sind diese Gelder auch von der Insolvenz betroffen (kann doch nicht sein, da es sich um Kundengelder handelt). Gibt es in America auch so etwas wie eine Einlagensicherung? Derzeit können die Kunden nicht an ihr Geld!
      Avatar
      schrieb am 19.10.05 22:06:06
      Beitrag Nr. 40 ()
      Refco and lawyers appear in court
      NEW YORK (Reuters) - Refco Inc. and its lawyers appeared in bankruptcy court on Wednesday as they awaited the start of the restructuring process seeking to rescue parts of the nearly-collapsed futures and commodities brokerage.

      The courtroom was filled with creditors` attorneys and other affected parties in the bankruptcy proceeding.

      Refco`s lawyers will present motions to preserve the well-being of Refco`s current operations, such as maintaining bank accounts and ensuring the payment of employees.
      Avatar
      schrieb am 19.10.05 23:50:44
      Beitrag Nr. 41 ()
      Lieber peter.wedemeier1 ich möchte nicht so drastisch formulieren wie durran, aber wäre es vielleicht möglich eine deutsche Übersetzung bzw. Zusammenfassung der von Dir eingestellten Postings vorzunehmen.
      Weiß jemand eine Antwort zu meiner Frage im Posting 39? Sind die Kundengelder abgesichert?


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