MF Global: 7th Biggest bankruptcy in U.S. history

Image: Nutdanai Apikhomboonwaroot / *

“MF Global, which filed for bankruptcy protection on Monday, is the biggest U.S. casualty of Europe’s debt crisis, and the seventh-largest bankruptcy by assets in U.S. history.”  Reuters

“the panic behind the scene is palpable”  Tyler Durden, ZeroHedge

“Early this morning we were greeted with the news that MF Global went into bankruptcy a fact that I highlighted to you on Thursday and Saturday. I indicated that this would be a “biggy”!!  Harvey Organ 

“It seems that these guys were long a massive amount of Swiss currency which lowered in value to the Euro as the SNB pegged the Swiss Franc to the Euro and thus MF Global suffered massive losses.

I have also been told that these guys also had massive amounts of Greek bonds and they leveraged their purchases.  They accumulated these huge bond holdings with the assumption that the authorities would not allow Greece to fail. These guys are also futures traders and thus have good sized positions in gold and silver. The CEO of MF Global is Jon Corzine, former governor of New Jersey and Senator for that state.  He is also a former CEO of Goldman Sachs and he is a known gold and silver hater.  I wonder on what side this company was on with respect to the precious metals.”


CNL Editor’s Note:

Top 8  Bankruptcies in U.S. History

  1. Lehman Brothers Holdings Inc. 2008 – At least $639 billion in pre-filing assets
  2. Washington Mutual Inc. 2008 – 327.9 billion in assets
  3. WorldCom Inc. 2002 – $104 billion in pre-filing assets
  4. GM 2009 – $89 billion in pre-filing assets
  5. Enron Corp.2001 – $66 billion in pre-filing assets
  6. Conseco Inc. 2002 – $61 billion in pre-filing assets
  8. Chrysler 2009 – $39.3 billion in assets

Related article:

Related video:

* Image reference:
Nutdanai Apikhomboonwaroot /

*** More articles and videos from CanadaNewsLibre HERE !

Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of CanadaNewsLibre. The contents of this article are of sole responsibility of the author(s). CanadaNewsLibre will not be responsible or liable for any inaccurate or incorrect statements.

The CNL grants permission to cross-post original CanadaNewsLibre articles and videos on community internet sites as long as the text & title are not modified. The source and the author’s copyright must be displayed.

http://canadanewslibre contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.

ↄ⃝ Copyleft CanadaNewsLibre 2011

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s