Pin ItemailprintJon Corzine has resigned from his post as CEO of bankrupt MF Global and, according to the firm, he won’t be taking a severance package on his way out the door. “I have voluntarily offered my resignation to the board of directors of MF Global,” Corzine said in a statement today. “This was a [...]
Another financial giant has fallen. The fallout from the implosion of MF Global Holdings Ltd rippled through global exchanges this morning, as operators moved to suspend the U.S. futures broker. MF Global filed for bankruptcy protection yesterday following bad bets on euro zone debt, with London clearing house LCH Clearnet declaring the company a defaulter. MF [...]
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It’s official. The S&P 500 has fallen 53 percent from its high back in October of 2007 and has now seen its worst six-month drop in percentage terms – 42.7 percent – since 1932. In that year, it fell 45.44 percent within a span of six months. A late flurry of selling activity finished off [...]
