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Following marathon weekend talks, MF Global (MF) could file for bankruptcy protection today and...

Following marathon weekend talks, MF Global (MF) could file for bankruptcy protection today and sell its assets to Interactive Brokers (IBKR) for about $1B in a court-supervised auction, the WSJ reports. Any sale would need the approval of a bankruptcy judge.
Comments (2)
  • dividend_growth
    , contributor
    Comments (2898) | Send Message
     
    Refco filed bankruptcy two months after becoming public in 2005. The reason was supposed to be some bad assets it swallowed in 1998 during LTCM crisis.

     

    MF Global took over the bankrupt Refco, and has to file bankruptcy after only 6 years.

     

    It seems like a curse and that bodes ill for IB's future.
    31 Oct 2011, 03:23 AM Reply Like
  • seb2908
    , contributor
    Comment (1) | Send Message
     
    It is amazing how reckless John Corzine and MF's Board of Directors were in taking on the amount of European Sovereign debt in comparison to MF's liquidity. Another classic example of negligent risk management and poor leadership.
    31 Oct 2011, 08:26 AM Reply Like
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