Another rogue trading episode, perpetrated by MF Global, former Goldman Sachs executive Jon Corzine. And to think the ratings agency maintained MF's credit rating on Aug 3 for a bond sale.

The CEO Corzine tried to replicate the Goldman Sachs model of investmet bank gambling in MFGlobal. Alas, he did not consider that MF was undercapitalised. So there you have it, these hotshot Goldman Sachs and other big bank traders trading secret, use huge capital (OPM=Other People's Money) to trade to make $, not skillful at all.