Tuesday, February 21, 2012

$1.6 Billion Goes "Poof" at MF Global

According to the Wall Street Journal (2012, February 13), $1.6 billion has somehow disappeared from client accounts at MF Global -- "poof" -- the money is gone.

How MF Global managed to lose $1.6 billion in customer deposits is still a mystery. One has to wonder if similar cash losses could happen at other Wall Street firms...

Source: Cohen, M (2012, February 13), The Daily Docket: Missing MF Global Customer Money Totals $1.6B, Wall Street Journal Online.

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