This news item speaks for itself, Save Jerseyans.
Since taking over last year as CEO at MF Global Holdings Ltd., Jon Corzine has pushed the brokerage firm to look much more like Goldman Sachs Group Inc., where he made his name and fortune as a trader.
Fears that the strategy is a dud deepened Tuesday when MF Global reported a wider fiscal second-quarter loss of $186.6 million. The New York company’s shares sank $1.69, or 48%, to $1.86, in 4 p.m. New York Stock Exchange composite trading, their second-worst one-day percentage decline ever.
MF Global disclosed it still has about $6.3 billion in exposure to European sovereign debt.”
