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Corzine's MF Global Files for Bankruptcy Following Bad Bets on European Debt
(October 31, 2011) -- MF Global has filed for Chapter 11 bankruptcy protection with total assets of just over $41 billion against liabilities of almost $39.7 billion. The firm was forced to file for bankruptcy following failed efforts over the weekend
Updated: 10/31/2011 03:29P
MF Traders Blocked by CME, Intercontinental Has Clients Fleeing
Under US law the client funds are kept in segregated accounts and protected in the event the broker files for bankruptcy. The filing caused turmoil in commodity markets, Scoville of Price Futures said, with MF Global active in contracts from oil to
Updated: 10/31/2011 03:24P
Oil and gold trading slow to crawl amid MF Global turmoil
Trading volumes among lowest this year due to MF Global * Counterparties describe chaos transferring positions * LME trading carries on as normal, for now NEW YORK/CHICAGO, Oct 31 (Reuters) - Trading activity in US gold, crude oil and grain futures
Updated: 10/31/2011 03:16P
JC Flowers Fund Said to See $47.8 Million Loss on MF Global
Oct. 31 (Bloomberg) -- JC Flowers & Co. has a loss of $47.8 million on its investment in MF Global Holdings Ltd., the New York-based broker-dealer that filed for bankruptcy today, according to a person familiar with the firm. The private-equity firm
Updated: 10/31/2011 03:12P
MF Global Failure May Spur More Oversight, Bove Says: Keene
The New York-based firm's finance unit, MF Global Finance USA Inc., also filed, with debt of as much as $50 million and assets of as much as $500 million. “We've learned in a very difficult fashion both in 2008 and with the European debt crisis that
Updated: 10/31/2011 03:05P
Bove: MF Global Failure May Spur More Oversight
The New York-based firm's finance unit, MF Global Finance USA Inc., also filed, with debt of as much as $50 million and assets of as much as $500 million. “We've learned in a very difficult fashion both in 2008 and with the European debt crisis that
Updated: 10/31/2011 03:01P
Led by ex-NJ guv, MF Global files for bankruptcy protection
WASHINGTON (AP) — MF Global Holdings Ltd., the securities firm run by former New Jersey Governor and Goldman Sachs head Jon Corzine, is seeking bankruptcy protection one week after reporting its biggest-ever quarterly loss. MF Global shares plunged 66
Updated: 10/31/2011 02:53P
Breakingviews: MF Global's failure vindicates Volcker Rule
But the bankruptcy of the brokerage and wannabe investment bank run by Jon Corzine reinforces the idea that the ability to bet a firm's own capital belongs only where its damage to the system can be limited. MF Global fits squarely in that bracket for
Updated: 10/31/2011 02:53P
Court Endorses Vatican Bank's Rescue of Italian Research Center
On Friday, 28 October, an Italian bankruptcy court gave the green light to an offer made by the Institute for Works of Religion, more commonly known as the Vatican Bank, and Italian entrepreneur Victor Malacalza to rescue the deeply in debt San
Updated: 10/31/2011 02:51P
Kotok Says MF Failure Is Not a Surprise (Video)
Oct. 31 (Bloomberg) -- David Kotok, chief investment officer at Cumberland Advisors Inc., talks about the US economy, monetary and fiscal policies, and MF Global Ltd.'s bankruptcy filing. He speaks with Tom Keene and Stephanie Ruhle on Bloomberg
Updated: 10/31/2011 02:51P
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