As you may have heard, things have not been going so hot for MF Global lately (though CEO Jon Corzine would beg to differ, saying yesterday on an internal call that “things are fine, pretty much”). The brokerage firm reported its biggest quarterly loss ever this earlier this week, Moody’s cut its rating to one step above junk on Monday, and Fitch, not wanting to feel left out of the gang bang, downgraded the company to BB+ from BBB, as well as placing it on Rating Watch Negative. Supposedly, the wheels really started to come off when Corzine began actively realizing his dream of refashioning MF-G in the likeness of his former employer but now is not the time for pointing fingers- now is the time for working the phones and selling off (part) of this bitch. Continue reading »