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In the wake of Peregine Financial and MF Global scandals, many farmers are losing faith in commodities brokerages they used to rely on. Regulators and futures industry leaders are hoping to restore confidence with increased oversight and account insurance.
Lehman Brothers, Bear Stearns, Countrywide and, most recently, MF Global, were all considered "primary dealers" by the Federal Reserve -- and they also all failed. So why were they considered so important, and how did they all get in trouble?