You incipid moron.
Do you really believe the marks to market? The market does not and just like Lehman it is time to say goodbye to MF and all the fools that sink their money into these POS operations.
I don't think you people understand what bankruptcy protection is. Companies file for bankruptcy protection when they can't pay their debts. If their assets were a billion and a half more than their liabilities, they wouldn't be filing for bankruptcy.
you're the moron. those liabilities are
client trade account liabilities not holding co
liabilities. the largest creditor is JPM @ 1.2 Bil. watch. the stock still has value.
I know what I'm talking about
have a nice day
where did you get these numbers from? lol
MF has about $1 billion in assets while has a leveraged account worth $40billion in European bonds which no one wants. when those bonds defaults or if Italy wants a haircut, they will worth half it's value and MF will be negative $19billion in debt. with $0 cash.
lol that is if someone willing to pay $41 billion for those junk bonds from Italy, spain...etc. lol it's 40-1 leveraged. meaning MF spent $1 billion to buy $40 billions worth crap bonds, which was trading at 40 cents on a dollar.
good luck with your math. lol