If there is one thing we have all learned with regards to clearing firms over the past two years, it is that where there is smoke, there is fire, and not only is there no fire brigade to come to the rescue, but the guys running around wearing firemen’s uniforms are a bunch of psychotic pyromaniacs who should all be locked up and the keys thrown away for the good of mankind.
Commodities clearing firm FC Stone (Nasdaq symbol INTL) has announced that it has … money issues. Again, they handle lots of pure agricultural hedging – farmers and ranchers. If anyone out there gets more info, let me know, as I am not in a position to go hunting stuff down myself.