The Federal Reserve Bank of New York suspended MF Global from conducting business with the Fed.
Please click “LIKE” to read the rest of this breaking news story
MF Global, which trades on the New York Stock Exchange, was halted because of news pending.
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.