not too big to fail
Jon Corzine, Seven Banks Sued for MF Global Collapse
A lawsuit seeking damages for investors in the now-bankrupt MF Global names former CEO Jon Corzine, along with units of Bank of America, Citigroup, Deutsche Bank, Goldman Sachs, Jefferies, JPMorgan Chase, and Royal Bank of Scotland, who all collected fees, but failed to foresee the firm's collapse, according to the suit. Some of MF Global's customers will start having access to their money, as 60 percent of the company's cash accounts have been unlocked, while many others still have their life savings frozen.
Seven banks sued over MF Global collapse [Reuters]
