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CFTC's Gensler backs away from MF Global; Sommers steps up
Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that Commissioner Jill E. Sommers will be acting as the senior Commissioner for the agency in matters relating to the bankruptcy of MF Global, Inc. (MFGI) and the
Updated: 11/10/2011 10:59P
Financial fixes fail to stop firm's meltdown
Not enough, in other words, has changed since the US financial system nearly toppled three years ago. The bankruptcy filing last week by MF Global Holdings Ltd. didn't freeze lending and panic investors around the world, as Lehman Brothers' did in 2008
Updated: 11/10/2011 10:49P
Risk, lax oversight riddle MF Global's past
In several lawsuits, trustees of failed businesses that traded through MF Global have also alleged lax oversight at the brokerage. Among them is a lawsuit involving Nicholas Cosmo, a Long Island financial manager dubbed "mini-Madoff.
Updated: 11/10/2011 10:47P
Risk, lax oversight riddle MF Global s past
Because many of the larger firms on the list do business across several asset classes that fall under the purview of other regulators, the CFTC data does not include enforcement efforts by other agencies. Separately, many of the big financial firms on
Updated: 11/10/2011 10:44P
UPDATED: Cimino Bros. Produce enters chapter 7 bankruptcy
Produce into chapter 7 bankruptcy liquidation, and the company's attorneys withdrew from the case for nonpayment. Cimino Bros. filed for chapter 11 reorganization in November 2009, when its owners agreed to cut monthly salaries by $20000 to reduce
Updated: 11/10/2011 10:31P
Nov 12th 2011 | NEW YORK | from the print edition
WHEN a firm declares bankruptcy, shareholders are typically wiped out and creditors seize control. On November 7th Dynegy, an energy firm, announced a more unorthodox kind of bankruptcy. Its bondholders and other lenders are likely to take a 10%
Updated: 11/10/2011 10:26P
INSIGHT - Risk, lax oversight riddle MF Global s past
In several lawsuits, trustees of failed businesses that traded through MF Global have also alleged lax oversight at the brokerage. Among them is a lawsuit involving Nicholas Cosmo, a Long Island financial manager dubbed "mini-Madoff.
Updated: 11/10/2011 10:06P
Southern cooperative leadership up in the air
The Yellowstone Valley co-op and the City of Great Falls will ask Montana's bankruptcy judge to reject See and turn over management of Southern to a court-appointed trustee, Kelsey said. They also want Judge Ralph Kirscher, who is handling Southern's
Updated: 11/10/2011 09:57P
Governor Bentley: Bankruptcy Will Affect Whole State
Jefferson County's $4.1 billion bankruptcy filing over a sewer debt crisis is making national news and Governor Robert Bentley says the filing will affect the entire state of Alabama. The Governor shared his thoughts on the largest municipal bankruptcy
Updated: 11/10/2011 09:57P
Alabama county has filed largest US municipal bankruptcy
By law, the county's tax policy is set by the state Legislature. Local lawmakers were unable to pass a law in the last session to replace the lost funding. Jefferson County, which is required by law to pass a balanced budget, responded by laying off
Updated: 11/10/2011 09:55P
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