MF Global May Have Mislead–S&P
MF Global told S&P that its capital position was strong–a statement that, based on later actions–was almost certainly was not true. Several stories today claim that $1.2 billion in missing customer funds held by MF Global may never be found. Regulators…
MF Global told S&P that its capital position was strong–a statement that, based on later actions–was almost certainly was not true. Several stories today claim that $1.2 billion in missing customer funds held by MF Global may never be found. Regulators and investigators continue to try to unravel the mystery about why the firm–run by former Goldman CEO Jon Corzine–collapsed
Reuters reports that
Just a week before futures brokerage MF Global filed for bankruptcy, the firm’s chief financial officer told analysts at Standard & Poor’s that its capital position had “never been stronger,” according to the ratings agency.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
