MF Global Going Down
October 31st, 2011Via: Bloomberg:
MF Global Holdings Ltd., the futures broker run by Jon Corzine, was suspended from conducting new business with the New York Federal Reserve today after posting a record loss.
The firm’s board met through the weekend in New York to consider options, according to a person with direct knowledge of the situation. It was stopped from doing new business with the New York Fed until it shows it’s able to fully discharge its responsibilities as a primary dealer or until its status as a primary dealer is suspended, according to a statement on the regulator’s website. Trading in MF Global’s stock was also halted.
