Fox Business Network: MF Global "Will Not Survive The Weekend"

FOX Business Network Senior Correspondent Charlie Gasparino reports that “clients are fleeing” MF Global and CEO John Corzine is “running around in a mad dash to sell assets in the firm.” Sources tell Gasparino that “MF Global, at least in its current form, will not survive the weekend.” Excerpts from the report are below, courtesy of Fox Business Network.

On MF Global

“Major players at the investment banks are telling FOX Business MF Global, at least in its current form, will not survive the weekend. They are having a run on the bank, clients are fleeing and what one CEO told me is it's done. It's toes up at MF Global. What you have now is John Corzine the CEO, running around in a mad dash to sell assets in the firm. This is a fairly desperate situation.”