MF Global down 60% right now

How fanciful is it that they tried to corner the market and Dooley was probably a fall guy for the initial losses in a failed strategy and now we are seeing the end game play out? Let's face it, SOMEONE has been driving up commodity futures.
 
Quote from Landis82:

Let's be CLEAR about this, Mann is a COMMODITY BROKERAGE!

They are #1 in clearing for the CBOT and CME, and #2 on the NYMEX.
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MAN clear all exchanges, they are also number 1 on Eurex, which is all financials. I used to clear MAN.
 
Quote from rjv27:

11:37 MF MF Global: Color on stock action (5.20 -12.13) -Update-

MF has plunged 70% today, on no apparent news. In late Feb the stock got cut in half after the co disclosed an unauthorized trading loss related to an employee that took a wheat futures position in his personal trading account that went the wrong way... We're hearing a couple of rumors circulating about today's weakness, including the following 1) chatter about the co's exposure to repos, and 2) concerns about a lawsuit regarding co's risk management... We're still checking around, and have left a message with the company.
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"on no apparent news": have you ever traded in your life? News will come later. Price is ahead of news.
 
Coz as clearing exchange they have to make good any counterparty but the institution that put the trade on is not good for it i.e. for NYMEX to claim from?
 
MF Global shares slump 64%
By Alistair Barr
Last update: 11:51 a.m. EDT March 17, shares slumped 64% on Monday amid a broad decline in other brokerage stocks. MF Global is a leading commodities broker. The stock was recently down 64% at $6.21 during midday trading, outpacing most other brokerage shares. End of Story
 
Quote from MrDODGE:

News must have been leaked to a select group. MF is on the down trend again.
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Leaked???
You can't be serious!
The stock has traded almost 21 MILLION SHARES!
 
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