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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
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MF Global files for bankruptcy

Posted by RJ and Makay on Nov 02, 2011

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bankruptcyMF Global Holdings Ltd. announced Monday that it is seeking bankruptcy protection.  The announcement comes one week after reporting its largest-ever quarterly loss.  The second- quarter loss of $191.6 million resulted largely from bad bets on European sovereign debt.  MF Global shares plunged 66% last week after Moody’s downgraded the firm’s own debt to junk status.