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Street Fighters: The Last 72 Hours of Bear Stearns
The dramatic collapse of MF Global in less than a week made me pick up a copy of the book, Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street for some leisurely reading over the weekend. The financial markets are so complicated and inter-connected nowadays that it only takes […]
MF Global Files for Bankruptcy Protection
The big (and expected) news yesterday was that MF Global has declared bankruptcy. A buyout by Interactive Brokers was abandoned at the last minute due to realisation that some money was missing from some customers accounts. Regulators are now investigating whether MF Global diverted some customer funds to support its own trades. The failure of […]
MF Global Seeks Sale as Bankruptcy Looms
MF Global, one of the world’s leading broker-dealer of exchange listed futures and options, has emerged as one of the biggest casualties from Europe’s crisis. MF Global is now suffering from its US$6.3 billion exposure to European sovereign debt, and is looking for buyers to save itself. In the past week, the corporate bonds of […]