MF Global Files for Bankruptcy

Welcome to the Moral Hazard Olympics Fall Games 2011, wherein some people simply never learn their lesson.  CEO Jon Corzine (Jersey Shore name: “The Dislocation”) seems to have put the firm and it’s 1900 employees into bankruptcy.

I have no idea what the fallout from this will be, but the filing came today after Corzine was unable to find a buyer to save the shareholders…

From DealBook:

MF Global filed for bankruptcy protection for the United States parent company on Monday, the first American financial casualty of the European debt crisis.

In the Chapter 11 filing in Federal Bankruptcy Court in Manhattan, the firm’s parent company listed assets of $100 million to $500 million and liabilities of more than $1 billion. JPMorgan Chase is identified as the biggest creditor, with a claim of $1.2 billion as the trustee on behalf of bondholders. Deutsche Bank is the second biggest, with a $325 million claim on behalf of bondholders.

More to come…

Source:

MF Global Files for Bankruptcy (DealBook)

Read Also:

Corzine Goes Old School, MF Global Shareholders Buried (TRB)

Tags: $MF

 

 

What's been said:

Discussions found on the web
  1. video transitions best commented on Sep 16

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  2. numbergame commented on Sep 17

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  3. bitcoin loophole review commented on Sep 23

    … [Trackback]

    […] There you will find 68849 more Info to that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  4. Bitcoin Era Review commented on Sep 28

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  5. 늑대닷컴 commented on Nov 09

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  6. Automated regression testing commented on Dec 02

    … [Trackback]

    […] Find More Information here on that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  7. rbc bank account commented on Dec 04

    … [Trackback]

    […] Here you can find 50917 additional Information to that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  8. breitling superocean replica commented on Dec 30

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  9. sign in tangerine commented on Jan 06

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]

  10. sahabatqq alternatif commented on Jan 11

    … [Trackback]

    […] There you can find 66688 additional Info to that Topic: thereformedbroker.com/2011/10/31/mf-global-files-for-bankruptcy/ […]