The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis. The firm, MF Global, had come under increasing strain in recent weeks due to $6.3 billion in outstanding bets on the sovereign debt of some of Europe's most troubled economies, including Spain and Italy.
Mf Global Goes Bankrupt, Is 1st U.s. Casualty Of European Crisis
L.A. Times - Business, Los Angeles Times: Business
Mon, 10/31/2011 - 9:01am
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