MF-Global invested in Europe's most indebted nations averaging down until there was no cash in their coffers. Corzine basically set out to catch the falling knife with OPM (other peoples money). Although the knife pinned the hand of MFGL, and our beloved "Don John Corzine" to the floor the company was only 1Bil upside down with 39Bil assets to 40Bil debt. The liquidation is scheduled over a 5 year period beginning July 2013, and all the while many of these indebted nations are in recovery mode. With over 4 years to go I would be surprised if there would not be something left for common shareholders with no overhead to speak of and assets appreciating.
Nothing to do but wait for now, and check in from time to time. 2018 may turn out to be a good year for those that picked up the scraps ;-) Thanks for posting the update, and enjoy the entertainment!
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