- Prison Planet.com - http://www.prisonplanet.com -
Scavenging Soros: Market Speculator Buys Up $2 Billion Of MF Global’s Debt
Posted By admin On December 12, 2011 @ 4:35 am In Featured Stories,Tile,World News | Comments Disabled
The Blaze 
December 12, 2011
Billionaire market speculator and philanthropist George Soros bought about $2 billion worth of European bonds from now-bankrupt MF Global — the same debt that pushed the firm to collapse, according to The Wall Street Journal .
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.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/scavenging-soros-market-speculator-buys-up-2-billion-of-mf-globals-debt.html
URLs in this post:
 The Blaze: http://www.theblaze.com/stories/scavenging-soros-market-speculator-buys-up-2-billion-of-mf-globals-debt/
 The Wall Street Journal: http://online.wsj.com/article/SB10001424052970204319004577086652040716704.html
 CNBC: http://www.cnbc.com/id/45610428
Copyright © 2013 PrisonPlanet.com. All rights reserved.