Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

BOE’s King Says No ‘Public Interest’ to Give MF Global a Bailout

Bank of England Governor Mervyn King said MF Global Holdings Ltd. posed too small a risk to financial stability to merit a bailout.

The failure of the firm “was an example of a company where quite frankly there was no public interest in saving it,” King told lawmakers at a U.K. Parliament committee in London today. “That’s what we didn’t have when Northern Rock failed.”

MF Global, the broker-dealer run by former New Jersey governor and Goldman Sachs Group Inc. co-chairman Jon Corzine, filed Chapter 11 bankruptcy on Oct. 31 in New York after its bets on European sovereign debt went sour. KPMG LLP will supervise the special U.K. administration, the Financial Services Authority said in a statement this week.

The firm was undermined by “the inability of management to see that they constructed a model that couldn’t withstand stress,” Andrew Bailey, director of banking supervision at the Financial Services Authority, said at the same hearing.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.