The crisis at MFGlobal was overshadowed by the events in Europe. Shares fell 62% this week and as much as 27% today. Debt cut to junk and clients must be pulling out money fast and they seem desperate to sell. I would guess that a sale or bankruptcy this weekend is a 95% likelihood. A takeover should sooth nerves but if the price is extremely low, maybe not. All hell might break loose on a bankruptcy, especially in commodities.
Update: Fox Buiness’ Gasparino, who is a great reporter, is saying MF is unlikely to survive the weekend.
