Read one article where George may be up about 130 mil on paper for the Italian bonds he bought of Italian bonds at a discount offered by the trustee of MF. Thats based on him buying 2 bil of the bonds. Link is attached.

In this article it says:

We also have learned that JP Morgan, an unsecured creditor of MF, was already paid amounts owed to it before the less influential individual or small company customers of MF who famously have lost over $1 billion of their own money which was supposed to be held in segregated accounts, and about which the estimable Mr. Corzine knows nothing. (And why should he?)