Leveraged Up the Wazoo, Corzine Gets His Come to Jesus Moment

Why is it so terribly interesting to read about the downfall of a firm on Wall Street? In this terribly good story in DealBook about the collapse of MF Global, we learn how incredibly leveraged up MF Global was on risky European debt and how Jon Corzine thought he could manage those come to Jesus moments when things go bad.

“Until you’ve actually traded and had to deal with one of those come-to-Jesus moments with a bad position,” he said, “and you have to make the decisions about whether to eliminate it, hold it, reduce it — those kind

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Tagged come to jesus moment, jon corzine, leverage, mf global