Rancher Discusses Losing Money With MF Global
The bankruptcy of MF Global — and the mismanagement of its clients' money — is causing trouble for a lot of ranchers and farmers. They were major clients of MF Global, buying futures contracts to hedge against swings in the value of their crops and livestock. MF Global cannot account for more than a billion dollars of its customers' cash. Lynn Neary speaks with cattle rancher Tim Rietzke of Coldwater, Kan., about his lost money.