21st Century bank run

MF Global trustee doubles estimates of shortfall
The amount MF Global should have segregated for customers may be short by "$1.2 billion or more," Giddens said in a statement. He added the figure could still change. Giddens also said he currently controls about $1.6 billion of the brokerage's funds that he can use to pay back customers. His plans to pay back 60 percent of customer funds by early December would nearly exhaust that amount.
If you had $1 cash in your account at MF Global, at the moment there is only $0.60 left and they don't know if the rest can be recovered. MF Global was not a fly-by-night boiler room operation, it was run by former New Jersey governor Jon Corzine.

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