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Broke Broker; MF Global's Bankcruptcy
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 401 no. 8758 (Nov. 2011)
,
page 84.
Topik:
Investment Banking
;
Corporate Profiles
;
Brokers
;
Bankruptcy
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.68
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The euro-zone crisis had already brought Dexia, a Franco-Belgian lender, low. This week it claimed its first American scalp. On October 31st, in the biggest collapse of a financial firm since that of Lehman Brothers in 2008, MF Global went bankrupt. Courts in more than half a dozen jurisdictions will be pressed to sort out billions of dollars in claims. Investigators are reportedly searching for hundreds of millions of dollars in missing client funds. MF's demise comes less than two years after it was intentionally transformed from a dull institutional broker to an ambitious investment bank by its new chief executive, Jon Corzine. It is too soon for a definitive autopsy on MF, but excessive leverage and proprietary bets were clearly to blame. Numerous lessons will be drawn from MF's collapse. Whether any part of MF survives is questionable.
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