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October 31, 2011

MF Global files for bankruptcy protection

"MF Global, a trader in commodities and derivatives brought down by bad bets on Europe, filed for bankruptcy protection on Monday, leaving behind more than $2 billion in debt to some of Wall Street's biggest players.

The fate of MF Global, run by former New Jersey Gov. Jon Corzine, has been closely watched on Wall Street as a sign of how Europe's sovereign debt crisis could be cause trouble for U.S. financial companies."

Read more here.

October 31, 2011 in Current Affairs | Permalink

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