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Anorak | Maybe We Finally Get to Jail A Banker: The MF Global Dream

Maybe We Finally Get to Jail A Banker: The MF Global Dream

by | 1st, November 2011

ARE we about to finally jail a banker? That would be nice, wouldn’t it? finally being able to sling into prison a banker or two?

And it really could happen too. No, not because they lost all our money playing silly buggers with houses and the like, not because they’ve been lending money to Southern European spivs.

Rather, a company called MF Global has just gone bust. Used to be part of the Man Group (same people who brought us the Man Booker prize for books) but was sold off in 2007. Not exactly a really sexy company, it was a futures broker more than anything else. Basically ye people who took your phone order and went and did the actual trade for you if you wanted to lose your money in pork bellies and the like.

They brought in the ex-head of Goldman Sachs (and then Senator and Governor of New Jersey), a bloke called John Corzine, who decided to make it a much more sexy company. Instead of

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Posted: 1st, November 2011 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink