Even while MF Global sinks, the markets seem surprisingly sanguine about the possibility of a financial crisis.
MF Global’s long-term credit rating was cut to junk status by Fitch today, and is rated just above junk by Moody’s. The stock has cratered. Jon Corzine, who heads MF Global, is shopping it to bigger Wall Street firms. More or less, he’s hoping someone with deep pockets will bail him out.
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