Global Brokerage Inc. (GLBR)

[Crusen]

FXCM suffered a Black Swan event, trading was suspended and they were forced to accept a rescue loan to resume trading.

The terms of the rescue loan hand 90%+ of shareholder value over to a new entity, Leucadia (LUK).

Also, they lost $225 million dollars almost instantly. $100 million has been written off. The remaining $125 million may or may not be recovered.

The worst terms of the Leucadia bailout are forever, and cannot he avoided by paying off the loan.