The most recent edition of “The Gorrie Details” is published on AbsoluteWealth.com, and in it Managing Editor James R. Gorrie investigates the collapse of a small futures brokerage firm, and how it could impact the futures industry.
The industry, in the words of Gorrie, had a “spotless record of keeping clients’ money safe.” Instead, the collapse presents real evidence of a failure to do so.
Gorrie compares the PFG story to the MF Global and Barclay’s Bank problems, eventually tagging the financial industry as a garden of weeds.
Gorrie said that “although it may delay the inevitable with regard to debt issues, [banks throwing money at failing issues] doesn’t address the basic problem that plagues the financial industry as a whole. As I see it, is not just a recurrent theme of thievery in the financial industry... but also the widespread nature of it, from small firms all the way up to the biggest firms in the world.”
Gorrie’s thought-provoking articles on economic issues help to inform people of their financial options, or lack thereof, as a result of the big, impactful happenings in the private and public sectors.
James R. Gorrie has more than eighteen years of financial advisory experience. He holds a BA in economics, and attained doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy. Gorrie writes daily articles on current macroeconomic and investment topics, Special Reports, and analyses on geopolitical events around the world that affect the market.
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