MF Global Files for Bankruptcy Today

October 31st, 20112:37 pm @


MF Global Files for Bankruptcy Today

NEW YORK  — MF Global today filed for bankruptcy. Pre-market trading was halted Monday in MF Global, a trader in commodities and derivatives.

The Federal Reserve Bank of New York suspended MF Global from conducting business with the Fed.

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MF Global, which trades on the New York Stock Exchange, was halted because of news pending.

MF Global’s warning bells

MF Global is run by Jon Corzine, former Goldman Sachs (GS, Fortune 500) Chief Executive who has also served as New Jersey governor and U.S. senator.

The company is one of several Wall Street banks suffering from exposure to Europe’s financial crisis. It was forced to take write-offs on the value of its European bonds as part of last week’s agreement to resolve the debt crisis.