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MF Global: Likely Among the 10 Biggest Bankruptcies Ever

Berlin

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Jan 31, 2003
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http://blogs.wsj.com/deals/2011/10/...ng-the-10-biggest-bankruptcies-ever/?mod=e2tw

- By Shira Ovide

MF Global, the brokerage run by former Goldman Sachs chief Jon Corzine, today ( Oct 31, 2011 ) filed for bankruptcy protection, becoming one of the highest-profile U.S. victims of bad bets on European government debt.

With the Chapter 11 filing, MF Global also is likely to be added to the ignominious list of the 10 largest bankruptcies in U.S. corporate history. Here is that list, according to research firm BankruptcyData.com, and based on the value of each company’s assets before its bankruptcy filing.

Based on MF Global’s disclosed assets in its bankruptcy filing, it is likely to slot in just ahead of Chrysler as the eighth-largest U.S. bankruptcy.

1) Lehman Brothers Holdings, September 2008: $691 billion in assets

2) Washington Mutual, September 2008: $327.9 billion

3) WorldCom, July 2002: $103.9 billion

4) General Motors, June 2009: $91 billion

5) CIT Group, November 2009: $80.4 billion

6) Enron, 2001: $65.5 billion

7) Conseco, 2002: $61.4 billion

MF Global: $41 billion (as of Sept. 30)

8) Chrysler April, 2009: $39.3 billion

9) Thornburg Mortgage May, 2009: $36.5 billion

10) Pacific Gas & Electric Co., 2001: $36.15 billion

Source: BankruptcyData.com; SEC filings for MF Global asset size
 

Rockslinger

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Apr 24, 2005
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What was the name of that hedge fund that went bellyup about 10 yearsa ago? LT something? They even had 3 Nobel Prize winners on their staff. Just goes to show that Nobel Prize winners aren't good at making money (Bill Gates or Warren Buffet never won a Nobel Prize, did they?).
 
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