3XSQ: What happens to your money when you give it to your broker? Plus, William Ackman and Burger KingBy Chris Clair
Regulators are reportedly going after JPMorgan regarding customer fundsâ€”but in relation to Lehman Brothers, not MF Globalâ€”and William Ackman takes a 29% stake in Burger King.
The New York Times says the CFTC is expected to file a civil case against it for over-extending credit to Lehman Brothers for two years leading up to its 2008 bankruptcy.
Here’s the paper’s report.