MF Global announcement
- Thread starter 1nibbler
- Start date
Have you tried to make sense of the MF Global balance sheet?
They have $41 billion in assets and only $1.2 billion in equity. A 3% bump in the night and they are burnt toast.
I set up a complex spreadsheet analysis of MF Global assets and liabilities and it comes to the conclusion that Jon Corzine is worth minus $10 a share.
7 cents per side? Sweet.
http://online.wsj.com/article/SB10001424052970204528204577008090428088540.html?mod=djemalertDEALS
"MF Global, Imperiled by European Bond Bet, Nears Deal With Interactive Brokers"
Under the tentative plan, MF Global's holding company would file for bankruptcy protection, the person familiar with the matter said. Interactive Brokers would then likely make an initial bid of about $1 billion during a court-supervised auction, the person said, though the deal was described as complicated and that number could change.
"MF Global, Imperiled by European Bond Bet, Nears Deal With Interactive Brokers"
Under the tentative plan, MF Global's holding company would file for bankruptcy protection, the person familiar with the matter said. Interactive Brokers would then likely make an initial bid of about $1 billion during a court-supervised auction, the person said, though the deal was described as complicated and that number could change.
Yeah, front end periphery Europe getting killed because of MFG.
