Business

‘Going Galt’: Hedge Broker Shuts Down Firm With Chilling Letter About the Market

Ann Barnhardt Shuts Down Hedge Firm With Going Galt LetterAnn Barnhardt describes herself as a an “an old-school commercial hedge broker specializing in CATTLE and GRAIN.” And she just shut down her business by delivering a passionate and chilling open letter posted on her website.

“I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not,” she writes. And then she unloads:

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette. [Emphasis added]

The letter caught the attention of Rush Limbaugh on Thursday.

“The letter from the hedge fund guy sounds particularly filled with vitriol, but he’s right about something,” Limbaugh said after reading an excerpt. “Corzine was that firm, and the customers’ money is gone, and it’s like $600 million of it, and it’s gone, and they’re trying to get it back, it’s a miniature Madoff in that sense. And somebody did steal that money. Somebody at that firm, which is now bankrupt and 1,100 people or thereabouts have been laid off, somebody stole the clients’ money. It is a big deal to a lot of people.”

We’ve included the entire letter (originally presented in two parts) below (courtesy of Zero Hedge):

BCM Has Ceased Operations (source)
Posted by Ann Barnhardt – November 17, AD 2011 10:27 AM MST

Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.

The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.

I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt. While other firms may not be as heavily leveraged as Corzine had MFG leveraged, and it is now thought that MFG’s leverage may have been in excess of 100:1, they are still suicidally leveraged and will likely stand massive, unmeetable collateral calls in the coming days and weeks as Europe inevitably collapses. I now suspect that the reason the Chicago Mercantile Exchange did not immediately step in to backstop the MFG implosion was because they knew and know that if they backstopped MFG, they would then be expected to backstop all of the other firms in the system when the failures began to cascade – and there simply isn’t that much money in the entire system. In short, the problem is a SYSTEMIC problem, not merely isolated to one firm.

Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.

And so, to the very unpleasant crux of the matter. The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.

Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine.

Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.

To my clients, who literally TO THE MAN agreed with my assessment of the situation, and were relieved to be exiting the markets, and many whom I now suspect stayed in the markets as long as they did only out of personal loyalty to me, I can only say thank you for the honor and pleasure of serving you over these last years, with some of my clients having been with me for over twelve years. I will continue to blog at Barnhardt.biz, which will be subtly re-skinned soon, and will continue my cattle marketing consultation business. I will still be here in the office, answering my phones, with the same phone numbers. Alas, my retirement came a few years earlier than I had anticipated, but there was no possible way to continue given the inevitability of the collapse of the global financial markets, the overthrow of our government, and the resulting collapse in the rule of law.

As for me, I can only echo the words of David:

“This is the Lord’s doing; and it is wonderful in our eyes.”

With Best Regards-
Ann Barnhardt

“I am going to head out of town for a few days, but will be checking email and messages,” Barnhardt wrote, after describing her letter as “going Galt” — a reference to Ayn Rand’s “Atlas Shrugged.”

“Thanks to one and all for the kind support and prayers. Please be assured of mine in return, for all of us.”

Read more about MF Global here and here.

UPDATE:

It turns out Barnhardt has a history of being quite outspoken. She regularly posts videos to a YouTube channel and has a history of making controversial statements about Islam. She’s also come under fire for her thoughts on the bin Laden raid.

Despite some of her baggage, though, she is grabbing headlines. Besides catching the attention of Zero Hedge and Limbaugh, her story was also featured in an article on Bloomberg Business Week’s website today.

Could it be that despite her past, her present story is still compelling?

(H/T: Andrea Shea King)

Comments (328)

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  • tobywil2
    Posted on November 18, 2011 at 9:10am

    Understand Mr. Obama’s “Cronynism Economic System” click on http://commonsense21c.com/CRONYISM.html

    Report Post » tobywil2  
    • Unix
      Posted on November 18, 2011 at 10:24am

      This is the problem, croney capitalism and communism are running the show right now. We need to restore the Constitution and purge the left wing from power – in 2012 we have the vote of our lifetimes! Don’t mess it up…

      Report Post » Unix  
    • jb.kibs
      Posted on November 18, 2011 at 11:02am

      The Blaze is behind the times… Infowars broke this story days ago with an interview of Gerald Celente… ;)

      This is not a scam… Gerald Celente had 6 figures of gold stolen from him and all his futures accounts closed… This whole thing is pathetic and is going to put an end to a lot of investments… :\

      Report Post »  
    • lillymckim
      Posted on November 18, 2011 at 11:04am

      Her letter and story is very compelling!

      Report Post » lillymckim  
    • Uncurable wound
      Posted on November 18, 2011 at 11:05am

      This corzine trash was the head of goldmansachs,the governor of newjersey and the head of mf global.
      BUT YET HE STILL HAD TO STEAL 600 MILLION DOLLARS,BECAUSE HE DIDNT HAVE ENOUGH!!!
      Reminds me of monty burns on the simpsons”Id give it all away,for just a little more.”
      JOHNNY YOU SHOULD BE SHOT…

      Report Post »  
    • Gold Coin & Economic News
      Posted on November 18, 2011 at 11:05am

      The market is rigged by crooks and our Congress is leading the way!
      http://www.congressinsiders.com/2011/11/congressional-inside-trader-nancy-pelosi-is-a-liar/

      Report Post » Gold Coin & Economic News  
    • jb.kibs
      Posted on November 18, 2011 at 11:09am

      first rule of gambling…. the house always wins.

      Report Post »  
    • smithclar3nc3
      Posted on November 18, 2011 at 11:11am

      Just saw Atlas Shrugged DVD yesterday, I highly recommend it. Good acting,good cinematography,fast pace.

      Report Post »  
    • JRook
      Posted on November 18, 2011 at 11:14am

      @Unix First, not surprising as it is greed that drives Wall St. and the markets and, let’s not sugar coat this, it is greed that is behind these types of crimes. Second, the notion that Republican or conservative capitalists are any less greedy or criminal as a group than Democrat or liberal capitalists is laughable at best. Given the fact that Corzine was a high profile Democrat it is not a surprise that he would travel in circles that include the President. No more revealing than Goldman Sachs revolving door in the Bush administration. At the end of the day it all comes down to we have the best politicians money can buy on both sides of the isle. And it is the wealthy, big corporations and Wall St. that buy them regardless of what individual or party we think might be in power. This is the parlor came the ruling elite provide for the masses. The author of the letter merely recognized she was part of the masses and thus irrelevant.

      Report Post »  
    • MONICNE
      Posted on November 18, 2011 at 11:15am

      Uh, she just violated the trust of all her clients, using an ‘objectivist’ Rand-rant as an excuse for refusing to do her fiduciary duty for clients who depend on her.

      I guess if you worship personal Greed instead of puritan work ethics this is an honorable explanation.

      TEA TEA

      Report Post » MONICNE  
    • JRook
      Posted on November 18, 2011 at 11:18am

      Oh and just for the record, for those who can actually read between the lines. Her reference to leverage in commodities is exactly why speculators can move the markets, causing the price of gasoline to be $.50 to $.70 higher than it would be in a true free market.

      Report Post »  
    • jb.kibs
      Posted on November 18, 2011 at 11:23am

      JRook
      Greed doesn’t equal dishonesty.
      dishonesty = dishonesty…

      You are saying Guns kill people. that is just a blatent lie. People kill people using guns, knives, etc…

      Report Post »  
    • jb.kibs
      Posted on November 18, 2011 at 11:26am

      MONICNE
      well, actually this is a direct response to Gerald Celente getting 6 figures of Gold stolen from him and all his accounts closed… She forsees this happening and is making good to all her clients before he company gets taken over and all of their futures stolen… she is an honest broker, you can look at it anyway you want, but when you ignore facts, yes, anything can look anyway you want it to. ;)

      Report Post »  
    • Rowgue
      Posted on November 18, 2011 at 11:49am

      @MONICNE

      Her clients agreed with her and wanted out of the market. How was doing exactly what they wanted betraying their trust exactly?

      Report Post »  
    • Wolf
      Posted on November 18, 2011 at 11:57am

      @ Monicne… poor, poor Mo… just can’t seem to get a rise out of anyone today, can you? Maybe you should go back to your potty room and play with yourself some more. You twit.

      Report Post »  
    • JRook
      Posted on November 18, 2011 at 12:22pm

      Would be interested on having the Blaze report on how well her business was doing. Perhaps this is nothing more than her finding a scapegoat for less than stellar performance.

      Report Post »  
    • someonewhocares
      Posted on November 18, 2011 at 1:44pm

      She gets it.

      http://politicalbowl.com – Political Videos

      Report Post »  
    • GroundZero is Nuclear Demolition x3
      Posted on November 18, 2011 at 2:03pm

      Rand put it best: “You can deny reality, but you can’t deny the consequences of denying reality”

      Here is how China deals w/ “Madoff” ilk, by putting them to DEATH:
      http://www.youtube.com/watch?v=OGracpk1OYQ

      My country will still continue down the road to self destruction, until the majority realize commercial aircraft DID NOT hit the towers. JUST REVIEW THE VIDEO FOOTAGE PEOPLE!!
      It‘s sooo obvious Newton’s third LAW is NOT SEEN IN ANY EFFECT!
      And this is why the “consequences of reality” will continue to drag this country to the pits of hell.

      Report Post »  
    • JayRobs
      Posted on November 18, 2011 at 2:20pm

      Ann Barnhardt deserves her Clients undying praise, NO ONE can trust any of Obama’s characters with anything and the only way protect yourself is to just STOP. If you are not aware look at: The White Hat Report; Politicalvelcraft.org; theplanneddestructionofamerica.com/?ref=SWC; gangsterbabnkster; among others. We have been and are being robbed blind by Obama, Bush(s) and Clinton among others as you will see in the White Hat Report #32

      Report Post »  
    • old white guy
      Posted on November 18, 2011 at 2:38pm

      while i understand her frustation, as an investor i ain’t too fond of hedge funds. lost way too much money.

      Report Post »  
    • Zorro6821
      Posted on November 18, 2011 at 3:50pm

      What she says is only the truth. No surprise. The game has been rigged for many years and unless you are an insider, the market is for fools. Stick with Gold, Silver or hard assets. Vegas gives you better odds than Wall Street.

      Report Post »  
    • ImaHippyBurning
      Posted on November 18, 2011 at 4:25pm

      This is one area that I am in agreement with the 99%’ers. This corruption, and unethical behavior must stop in both Corporate and Public Sectors. These people are soulless and deserve to go to hell as soon as possible. Unfortunately greed, ethics, and morality cannot be legislated but to do nothing is not an option. I say take every last penny of this tool John Corizine then execute him in the public square and show everyone that when they behave like this they will end up like this! The time has come for good to take out the evil in our societies…

      Report Post »  
    • Damocracy
      Posted on November 18, 2011 at 7:49pm

      its really a great website thanks

      Report Post » Damocracy  
    • jimdrivestruck
      Posted on November 19, 2011 at 8:25am

      Toby, I have admit that I, like so many Americans, was an unquestioning patriot until the end of the Bush administration and the beginning of the Obama regime. But no more. I never thought in my 53 years on this earth that I would ever see time when our own government would become a “Clear and Present Danger” to the American people and putting us in a possition of literally loosing our way of life in this country. With eye’s wide open I see just how miraculous and by divinely ordained our country came into being. By all that is Holy and Righteous I have taken a stand and will promote the ties to be severed between the special interest groups and Washington and will question my leaders and do all I can to hold them accountable for how they have and will handle the Constitution of OUR United States by the choices they make.

      Report Post »  
    • mamatango
      Posted on February 5, 2012 at 1:58am

      I learned more truth about Mitt Romney from listening to Ann in this video:

      http://www.youtube.com/watch?v=KBXe3Kvg-qU&feature=player_embedded#!

      This will curl your socks!!!

      Report Post »  
  • CN
    Posted on November 18, 2011 at 9:09am

    I knew I recognized that name…she is the same Ann Barnhardt that made the video quoting passages from the Koran, ripping the pages out, and burning them. The video part 1 is here: http://www.youtube.com/watch?v=6xqtYkd2gCs

    Report Post »  
    • Meyvn
      Posted on November 18, 2011 at 9:17am

      Yeah. This chic has more balls than most men. She’s a trooper and says it like it is.

      Report Post » Meyvn  
    • AhLeahIris
      Posted on November 18, 2011 at 9:27am

      Yep, she’s a fighter. I love it when people fight back: http://wp.me/p1HGwx-1xt

      Report Post » AhLeahIris  
    • el thinko
      Posted on November 18, 2011 at 9:37am

      “Jihad works both ways” Ann B. RULES!

      Report Post » el thinko  
    • johnlee
      Posted on November 18, 2011 at 9:40am

      Outstanding, the next thing may be not being able to sell your stock when you want to.

      Report Post »  
    • AZindependent
      Posted on November 18, 2011 at 9:45am

      For the casino to get players, you have to give the perception that the game is fair and you have a chance to win. People are waking up to the fact that the rule of law is eroding, and the “house” is corrupt. MF Global collapse was a BIG deal, that no one wants you to know about. The Euro default is HUGE, but they don’t want you to panic. Anyone still sitting at the table with money in the “market”, deserves what is coming.

      Ms. Barnhardt is letting her clients know, what many have known for years, the “market” is rigged and sheep will be fleeced. She has a family farm to produce food on and an AR 15 (I think it is pink) to protect it with. I wish good fortune to her and her now wiser former clients.

      Report Post »  
    • MONICNE
      Posted on November 18, 2011 at 10:14am

      It will be ironic when she turns out to be as dirty as Governor Corazine, and turns out to be simply trying to avoid prosecution

      TEA

      MONICNE  
    • Unix
      Posted on November 18, 2011 at 10:31am

      She is speaking the truth, this house of cards is coming down! And the idiots are already marching on the street, can you imagine what will happen when the system comes crashing down, I hope you all are prepared for hell on earth, mayhem and madness…it‘s a comin’

      Report Post » Unix  
    • geotico
      Posted on November 18, 2011 at 10:46am

      Well I just fell in LOVE!! Everyone needs to watch this video. And REMEMBER she is talking about a Republican!!! We need to vote all these idiots out of office!!

      Report Post »  
    • LadyLibertea
      Posted on November 18, 2011 at 12:02pm

      Yep, that’s her….she’s awesome.

      Report Post »  
    • jacobstroubles
      Posted on November 18, 2011 at 12:55pm

      Somebody find that women and give her an award, and a new job.
      Burning the quran.. that is bonus..

      Report Post »  
    • TalonsPoint
      Posted on November 18, 2011 at 2:10pm

      @ Monicne. You may want to reread. Ms. Barnhardt did not violate fiduciary duty nor her clients trust by advising clients to no longer use her services. However Corsine sure did by failing to now didn’t he?

      Her public letter was not released until allowing all her customers to close their accounts. After that she has the free speech right to warn the public about what she had privately already warned her ex clients about.

      That dear, is what you call facts.

      Report Post » TalonsPoint  
    • jnealer
      Posted on November 18, 2011 at 2:14pm

      The media isn‘t giving this as much attention as it deserves in the same way they didn’t explain the rest of the financial disaster well enough. The media is in bed with the banks just like ALL the politicians are – they all feed from the same trough. This was all happening well before Obama (you do remember Bear Stearns, right?). THIS is EXACTLY what OWS is about (and what the Tea party started as, before they were co-opted). It’s a rigged system that benefits only the top. It’s not Marxist, it’s just plain old corruption. INCREASE banking regulations and oversight. No firm should ever be allowed to leverage itself that much. Oversight and sunlight in banking AND government are two things we should all be able to agree on.

      Report Post »  
    • TalonsPoint
      Posted on November 18, 2011 at 2:17pm

      @CN. What exercise of free speech about Islam discredits her actions regarding her business and the reason for discontinuance thereof? I thought so.

      Report Post » TalonsPoint  
    • CN
      Posted on November 18, 2011 at 2:50pm

      Talonspoint:

      I’m a Barnhardt fan. I didn’t say anything to construe that the her free speech dicredits her other actions. I merely posted the video to remind folks of her stance from another political/religious perspective. I think she’s awsome.

      Report Post »  
  • Rickfromillinois
    Posted on November 18, 2011 at 9:08am

    It seems to be that the mainstream media has let this story die an early death. If a former Republican Senator and Governor of a heavily populated state had done this how long do you think that the story would have run? The lady is right, Corizone stole that money from his clients. Mr. Big Time Liberal is nothing more then a low life thief, and I think that the liberals in both the media and in government is going to try their best to sweep everything under the rug. Of course I suppose in his mind he was just taking money from evil fat cat rich people and he was personally redistributing it to those who deserve it more, like his chauffeur, house cleaner, maid, butler, and yard man.

    Report Post » Rickfromillinois  
    • Snowleopard {gallery of cat folks}
      Posted on November 18, 2011 at 9:39am

      I imagine before the next week is out the Fed’s will be seeking to crucify her and bring her up on some kind of “investigation and charges pending for improprietory actions…” in an effort to intimidate and silence her once and for all.

      Report Post » Snowleopard {gallery of cat folks}  
    • gfmucci
      Posted on November 18, 2011 at 9:46am

      She already declared last week that she will not pay income taxes to our corrupt government that violates her religious values, mainly aborttion. If more Christians acted on their beliefs we would be a better country for sure.

      Report Post »  
    • PubliusPencilman
      Posted on November 18, 2011 at 10:03am

      Sooo….

      When a Hedge Firm manager alleges cronyism from the Obama administration, all of you jump on it. But when OWS protestors point out cronyism within Wall Street, you dismiss them all as communists….

      Funny how that works. It just goes to show that Blazers have absolutely no consistent principles.

      Report Post »  
    • RLTW
      Posted on November 18, 2011 at 10:40am

      Sooo, if you followed Ann for any length of time you’d know she presents a cogent argument, while OWS presents a lunatic asylum.

      Report Post »  
    • Unix
      Posted on November 18, 2011 at 10:40am

      Yep, just like the muni debt debacle that is about to befall many more than 3 municipalities. Not to mention the $15+ TRILLION in debt we have and the $700 TRILLION in derivatives and the multi-trillion debt of the EU…oh did I mention Iran? China? N Korea? How about the housing ‘crashing’ market? Oh and the banking system? How about the Debt Commission vs draconian cuts across the board if they fail…the list goes on, but the top of the list goes to our Marxist-In-Chief, he’s gotta go, along with all Progressives and RINO’s and croney folks.

      Viva TEA

      Report Post » Unix  
    • Walkabout
      Posted on November 18, 2011 at 10:51am

      PubliusPencilman

      Dude, Corzine is part of Wall Street & the Democrat machine.

      Report Post »  
    • Sy Kosys
      Posted on November 18, 2011 at 10:53am

      @pubicdoucheman

      Soooo….

      You’re out there encouraging OWS and protesting, yourself, at the steps of Fannie and Freddie too….right?

      Naturally…

      Report Post » Sy Kosys  
    • kryptonite
      Posted on November 18, 2011 at 10:56am

      @PubliusPencilman
      When a Hedge Firm manager alleges cronyism from the Obama administration, all of you jump on it. But when OWS protestors point out cronyism within Wall Street, you dismiss them all as communists….
      ————–
      Wall Street happens to be overwhelmingly liberal, lamebrain. MOST of them voted for Obum, believing they were getting another Bill Clinton. They acted stupidly. Now those useful idiots are the ones being targeted by the Commie-in-Chief and OWS.

      The OWS commie revolutionaries (they can also be called terrorists now that a Molotov cocktail has been thrown) are not pointing out cronyism. If they were, they would be protesting in front of Fannie Mae and Freddie Mac, and certainly in front of the WH. OWS pukes are being paid by the powers that be to create anarchy and help the traitor in the WH collapse the capitalist system once and for all.

      Report Post »  
    • SoupSandwich
      Posted on November 18, 2011 at 11:44am

      @ pencil neck
      Did ows pose that platform? It was hard to tell between the rapes, od losers, and over all socialistic carnival attitude. Wow. Maybe they just needed more informative people like you up front. Hard to get the message when some/most/all just want free stuff for nothing. Do they have an opening in the media tent for you?

      Report Post »  
    • PolitelyPlanning
      Posted on November 18, 2011 at 3:51pm

      My broker will not trade my account right now. The markets are too unpredictable with no fundamental reason. He will not risk my money and advises me accordingly. Anne is looking out for her clients and being responsible to them. I appreciate my broker for taking a stand and protecting me from substantial loss.
      My broker does not have my money….it is in a third party firm….if this firm would decide to take off with my money, it would be huge loss; the fact that Anne is protecting her clients has nothing to do with her making any money since the only way she makes money is to put on a trade for someone. She does not handle the money herself but gets the commission on the trade from the third party firm through her clients account. So the real question is: can we trust the firm that has our money or will it also go the way of MF Global? Anne believes all the firms will fail eventually and she won’t be a part of seeing people loose their wealth. Get ready for total collapse.
      “Snow”, you are right on the money, as usual.

      Report Post »  
  • Av8tor056
    Posted on November 18, 2011 at 9:07am

    If I were to trust anyone with my money I would trust her.

    Report Post » Av8tor056  
  • SLARTIBARTFAST
    Posted on November 18, 2011 at 9:07am

    What can I say, other than WOW! A personof this kind of integrity should be the norm, no the exception. God be with you, Ann.

    Report Post » SLARTIBARTFAST  
  • Steckmeyer
    Posted on November 18, 2011 at 9:04am

    If you haven’t been following this chick for the last six months I suggest you take some time and review her blog http://barnhardt.biz/. She is wicked smart and a natural leader.

    Report Post »  
    • HKS
      Posted on November 18, 2011 at 9:17am

      What she is saying is not surprising to me, what is surprising is that she said it. She will face a wealth of wrath from the powers that be as this was suppose to stay a secret. Really, are we in a 12,000 market over the last three years? From where I sit anything above 6,000 is a mirage.

      Report Post » HKS  
    • ChiefGeorge
      Posted on November 18, 2011 at 10:39am

      She could be leading a real revolution outside the socalled revolution in the streets. Her ballsy move here can embolden others in her same shoes to follow suit. Even if it does not, it will motivate atleast the clients to pull their funds to safety. This will begin the cascade of collapse we’ve all been looking for (not hoping for). Pull your 401 cash to the money market accounts now or your gonna take another big hit on your gains since 2008. Not sure if it is even safe to leave it there, you might need to pull it altogether and invest in a home or other tax shelter before Obama hits the panick switch to stop all withdrawals.

      Report Post » ChiefGeorge  
    • madasblazes
      Posted on November 19, 2011 at 10:30am

      @Steckmeyer,
      Thanks for this link. What an incredible read; incredible person.

      Report Post »  
  • 80mesh
    Posted on November 18, 2011 at 9:03am

    i’ll need a larger mattress when i win lotto

    Report Post » 80mesh  
    • AB5r
      Posted on November 18, 2011 at 6:27pm

      For all of the new girlfriends once you start waving that money around?

      Report Post » AB5r  
  • Sue Dohnim
    Posted on November 18, 2011 at 9:02am

    WELL said Ann Barnhardt,
    but this is crony socialism and here is Joe Biden and MF Globals Jon Corzine, Obama fund raiser and exGoldman Sachs guy.. “NEO-FASCISM”

    VP Biden says he called Jon Corzine for advice for advice on what to do about the economy.

    http://www.youtube.com/watch?v=xm3VMrKqJSA

    Report Post » Sue Dohnim  
  • poverty.sucks
    Posted on November 18, 2011 at 9:02am

    Obama’s ability to collaps the financial market is closer than we had expected. Never underestimate a community organizer.

    Report Post » poverty.sucks  
    • neidermeyer
      Posted on November 18, 2011 at 11:15am

      Absolutely ,, it doesn’t take money to engineer a collapse ,, just undermine trust in the system ,, we’ve had 3 solid years of paying off the “TBTF” villians with $Trillions of our dollars ,, we’ve had secured bondholders shafted in favor of the presidents friends ,, and here we have a very public coverup for a friend of the administration ,, Corzine will never see the inside of a jail cell.

      Who wants to bet when Obama issues order # 10-289

      Report Post » neidermeyer  
    • Twobyfour
      Posted on November 18, 2011 at 4:40pm

      Correction, “communisty organizer”.

      Report Post » Twobyfour  
    • rambosharley
      Posted on November 20, 2011 at 10:11am

      How hilarious and frightening at the same time!

      Report Post »  
  • hi
    Posted on November 18, 2011 at 9:01am

    I like her!

    Report Post » hi  
  • Zcat
    Posted on November 18, 2011 at 9:01am

    What Obama allowed his friends to do is disagraceful. I want where all this money Obama is spending—going! Corzine will get a free pass!

    If you didn;t watch Beck 5pm show yesterday—you need to go back and watch. As most know, you get a 14 day free trial. Yesterday show would be well worth the time to register!!!

    Report Post »  
  • toomuchgovt
    Posted on November 18, 2011 at 9:01am

    Bravo, to a true patriot… The truth has no agenda.

    Report Post » toomuchgovt  
  • JMorcan
    Posted on November 18, 2011 at 9:01am

    Obama has destroyed the country.

    Report Post » JMorcan  
  • Coralchristie
    Posted on November 18, 2011 at 9:00am

    Wow!!! I wish that she would record this and put it on Utube. Honest people everywhere know this to be the truth.

    Report Post »  
  • SpankDaMonkey
    Posted on November 18, 2011 at 9:00am

    .
    Well Ann, you sure stepped in it this time. If I were you i’d hire a food taster…..

    Report Post » SpankDaMonkey  
  • BrerRabbit
    Posted on November 18, 2011 at 9:00am

    As a former stock broker, I whole heartly agree. What did it for me was the governments treatment of the GM bondholders. RAPE!

    Report Post »  
  • Bluefish49
    Posted on November 18, 2011 at 9:00am

    This is just the start. Soon major manufacuring company’s will simply shut the doors and go to other country;s as never seen before. They all know that we have never had a more corupt, anti-business anministration since Woodrow Wilson…….

    Report Post »  
    • Diego Roswell
      Posted on November 18, 2011 at 3:26pm

      If you want to see the future of American businesses, look closely at California’s businesses and tax receipts, trends and analysis over the past 10 years. As California goes, so goes the nation, straight down the crapper. The media lies and the sheep continue to graze on the misinformation, meanwhile the walls are crumbling around us. Not being a hedge fund manager, my question to my family is “do you want to live out the rest of your days in a FEMA (reeducation camp) or remain free?” Prepare, take care of your physical health, and remain informed.

      Report Post » Diego Roswell  
  • timej31
    Posted on November 18, 2011 at 8:59am

    Couldn’t agree more.

    Report Post » timej31  
  • poverty.sucks
    Posted on November 18, 2011 at 8:59am

    God Bless her, Amazing how it takes a woman to get our full attention.

    Report Post » poverty.sucks  
  • Mandors
    Posted on November 18, 2011 at 8:58am

    “Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable.”

    No, it’s not unfathomable. Corzine is a high ranking Democrat in an election cycle. That’s all this President and his puppet masters care about. To put an accurate Democratic face on Wall Street corruption would ruin their talking points.

    Report Post » Mandors  
    • ScreaminEagle
      Posted on November 18, 2011 at 10:36am

      I‘ll bet the Congressional inside traders didn’t get screwed. All them suckers need to go now!

      Report Post » ScreaminEagle  
  • Annie Fields
    Posted on November 18, 2011 at 8:56am

    HOLY CR*P…

    THAT scared me.

    And knowing Glenn like we do, that’s saying something.

    Report Post » Annie Fields  
  • ozchambers
    Posted on November 18, 2011 at 8:54am

    prepare.

    Report Post » ozchambers  
  • UlyssesP
    Posted on November 18, 2011 at 8:54am

    Obama says she’s just lazy.

    Report Post » UlyssesP  
  • NickDeringer
    Posted on November 18, 2011 at 8:53am

    Wow! This is devistating, but not surprising. How many more will do this? How many more sill just take the money and shut their doors and retire early??

    Report Post » NickDeringer  
    • AzDebi
      Posted on November 18, 2011 at 9:02am

      Yep…Go to trendsresearch.com (Gerald Celente’s site) and watch his video about what they did to him! It is chilling! Mike Broomhead was on a local talk show last night and talked about it…horrible! However, one of my best friends was the LARGEST single holder of GM stock here in the US…her stock was STOLEN and became WORTHLESS overnight…NO ONE CRIED FOR HER! It is CRIMINAL people…CRIMINAL! A LIFETIME of playing “by the rules” and she was devastated!

      Report Post » AzDebi  
  • Gonzo
    Posted on November 18, 2011 at 8:52am

    I wish my 401K manager was this honest.

    Report Post » Gonzo  
    • cemerius
      Posted on November 18, 2011 at 9:41am

      I have been reading some articles about 401k’s being ponzi schemes…….good time to research where you are in them right now!

      Report Post » cemerius  
    • thefirebuilds
      Posted on November 18, 2011 at 9:58am

      if my 401k was a ponzi scheme I’d expect it to be doing a lot better.

      Report Post »  
    • NC1
      Posted on November 18, 2011 at 10:10am

      401Ks are the biggest scam ever put on the American worker. For some odd reason, at this time in history, I’m glad I have no money invested in the stock market. I’ve got nothing to lose.

      Report Post » NC1  
    • cemerius
      Posted on November 18, 2011 at 1:36pm

      @Firebuilds I haven’t made a decision on them just hearing some grumblings about them I am sceptical about EVERYTHING these days…….still haven’t invested in them for my current company but have the pension plan going…….Just wish I could have afforded to follow one of my IT instructors that sat me down privately in 2001 when gold was 400+ an ounce!!! I’d be unemployed on purpose today :)

      Report Post » cemerius  
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