More on the MF Global bankruptcy
These final notes today, a couple of MF Global tidbits.
The first one’s the biggie. Using customers’ money mixed in with its own, federal officials say the company that went under as its bets on European debt went bad used customer money to shore itself up as things got tight. Hundreds of millions of dollars in customer funds aren’t where they’re supposed be.
Also, just ’cause it’s interesting: number 7 on the list of MF Global creditors is the business news channel CNBC. CNBC owed $850,000 for unpaid advertising, it turns out. Not that it did MF Global a whole lot of good.
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