NFA - National Futures Association Interview
January 15, 2014 at 5:06 PM (QQQ)(DIA)(SPY)(GS)(MS)
James Koutoulas Interview /
NFA Board Member - PFGBest & MF Global Client Attorney
The Futures Market has been somewhat slow to recover in the wake of John Corzine and his escapades at MF Global. Unlike those guilty of lesser crimes of a similar nature, Mr. Corzine walks the streets today a free man. How is this possible? Not everyone has the capital or foresight to make certain well timed, well placed, political donations. On the surface, the headline reads, "Crime Pays - If You Pay The Right People".
Before the welt from the slap on Corzine's hand had time to fade, Emini Traders, Commodity Specualtors and Forex Traders around the world were rocked by the news of PFGBest's CEO and his failed suicide attempt. Long story short, another $200,000,000.00 GONE!
An American Hero
When we first interviewed James Koutoulas in July of 2012, his takeaway statement on our radio program was "My goal is real simple: getting everybody's money back," he says. "And I think we have a very high likelihood of doing just that."
James Katoulous Futures Broker, became James Koutoulas Attorney, for clients of both failed firms. In the case of MF Global, he made good on his promise. Unfortunately for clients of PFGBest, this has proved a more difficult battle. Unlike Corzine who made a bad trade with segregated funds, Russell Wassendorf Sr. simply siphoned off funds to support an opulent lifestyle.
The Future of Emini Futures
I believe all commodity traders should sleep a little better knowing that James now sits on the board of the NFA - National Futures Association. There's a new Sheriff in town. Also discussed during today's interview was the Insurance Feasibility Study. James is co-founder along with John Roe of the Commodity Customer Coalition.
The CCC has 10,000+ members and works with regulators, Congress, and industry leaders to better protect commodities customers. James has been a vocal advocate for commodity customers, appearing regularly on CNBC, Bloomberg, and CNN, featured in major national print publications such as the Wall Street Journal, New York Times, and Reuters, and has written advocacy pieces for ZeroHedge. James is on the Board of Directors of the National Futures Association where he serves on the Executive and Appeals Committees.
If you missed our live broadcast today, click the headphones above or watch the video below.
Interview with Attorney for MF Global and PFGBest Clients
James Koutoulas - Co-Founder CCC / Director NFA
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Interview w/ James Katoulous Attorney for PFGBest Clients, Co-Founder of CCC and NFA Director
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