As if the Refco situation couldn’t get any worse, another bidder has been forced to step out of the fray. Tradelink, a Chicago-based FCM, has exited stage left due to all the claims piling up on Refco. Shareholder lawsuits aside, the CFTC says the company’s regulated assets and the officers involved in the mix may be fair game.
Someone may buy Refco, and find there is nothing but a few desks and flatscreens when the arrive at the office. Ouch.