"Famed Member of the 1% and Obama Bundler Runs Brokerage Firm Into Bankruptcy
Looks like Jon Corzine has done for his firm what he did for the State of New Jersey.
H/T: Instapundit
Besieged broker MF Global is expected to file for bankruptcy today after a frantic effort over the weekend by CEO John Corzine to strike an out-of-bankruptcy appeared to come up came up short, The Post has learned.
The embattled broker dealer run by the former New Jersey governor is expected to sell some of the company’s assets in a complicated transaction to rival Interactive Brokers Group, a move that must receive the blessing of a bankruptcy judge, according to people familiar the situation.
It is expected that MF Global’s holding company will file for bankruptcy while other units, including one that clears fixed-income trades, will open its doors for business this morning, sources added. Early this morning, MF shares were halted in trading, with news pending."
H/T: Instapundit
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