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Meet the world's first crowd sourced investment bank

document Distributed Knowledge, Open Innovation
Summary The fall of MF Global led the witch hunt right to JefCo's door as The Street pondered which firm would be next to go down because of Euro debt exposure. Every three days a new rumor or datapoint about JefCo's exposure surfaced, which was then both refuted and reacted to by the bank.
Essentially, Jefferies & Co. has become the world's first crowdsourced investment bank - people tell them what assets or exposure on the balance sheet they're nervous about and Jefferies goes out and makes those changes.

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