Will MF Global Get Away With It?
For those who have been asleep for the last six months, MF Global collapsed after making a highly leveraged (40:1) bet on European currencies. Mr. Corzine was the CEO who developed this great “strategy.” No problem so far. But there’s the small matter of $1.6 billion missing from supposedly segregated customer accounts. According to Mr. Nocera, that’s 25% of the total balance in customer accounts at MF Global. Continue Reading →