Much of the talk in the financial world today has been the immanent bankruptcy of MF global. One of the largest brokerages in trouble because John Corzine the former Goldman Chief starting prop trading going long on European Sovereigns, whilst pretty much every other bank is going short of them. When we had the Greek haircut, that resulted a pretty big loss on their books, and now its a real trouble.
It is said that John Corzine himself undertook a lot of the trades.
Its troubling times for myself and many others prop trading as many of us clear through MF global so I am hoping for some sort of take over or something. Talk is that it could be taken over by Interactive brokers, but their shares remain halted pending an announcement.
Well hopefully they get bailed and John Corzine gets what he deserves!
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