American Morning

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November 1st, 2011
01:07 PM ET

Corzine's MF Global files for bankruptcy – how will markets react?

MF Global, a financial firm run by former New Jersey governor Jon Corzine, has filed for bankruptcy. The firm filed for Chapter 11 after bad bets on Europe helped to put the company $39.7 billion in debt.

Also, according to government agencies, the company may have millions of dollars missing from its balance sheets.

This morning on American Morning, Bloomberg View contributor and author of "Money and Power: How Goldman Sachs Came to Rule the World" William Cohan explains how Corzine has a history of making bad bets and what this could mean for global markets.

Filed under: Business • Global markets
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