
Last week broker/dealer MF global was downgraded by Moody’s Investors Services and promptly declared bankruptcy this past Monday.  MF Global’s sources of funding dried up like a kitchen sponge left in the sun, which stemmed from a loss of confidence mainly attributable to a sizable $6bn+ European sovereign (PIIGS countries) debt book.  In addition, according to the company’s second quarter 2011 financials the firm had total asset of $45.9B and equity …Read more…







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