December 15, 2011
Remember when The Blaze reported that George Soros’ family fund bought $2 billion worth of MF Global’s European bonds?
At the time we reported:
…When MF Global filed for bankruptcy, the firm sold part of the bonds but still had about $4.8 billion worth of them on its books, CNBC reports.
They were turned over to KPMG, MF Global’s bankruptcy administrator in London; they were then offered to big investors by MF Global’s London clearing house, LCH Clearnet, the Journal said, quoting a KPMG spokeswoman.
When KPMG offered the bankrupts firm’s European debt to a variety of big investors, most of them passed. However, they were able to find one investor willing to buy the bonds at rock-bottom prices: George Soros.
A spokesman for Soros declined to give details about the company’s positions and why it decided to buy the bonds.
“While our firm is always in the market, we have a policy of not disclosing details of our positions,” the spokesman told the Wall Street Journal.
This article was posted: Thursday, December 15, 2011 at 4:42 am