Classic Cappuccino Man

Be he ever so humble, it does rather keep piling up around MF Global chief executive Kevin Davis:

April 24 (Bloomberg)—MF Global Ltd., the derivatives brokerage that lost $2 billion in market value since February, is seeking to sell $200 million of convertible debt to private equity firms, according to two people familiar with the talks...

Funnily enough:

...“We have no plans to issue convertible debt,” Davis said on a Feb. 28 conference call with analysts. “We would regard that as being a last resort, and we do not currently believe that we will need to do so.”

Last resort, huh? That sounds promising.

MF Global Seeks $200 Million From Private Equity
By Matthew Leising
Bloomberg Apr. 24 2008

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Disclosure: Long MF. Now, very nervously.