House Report Says Corzine’s Risky Bets Aided MF Global’s FallSubmitted by emalvini on Wed, 11/14/2012 - 23:11
House Report Says Corzine’s Risky Bets Aided MF Global’s Fall
BY BEN PROTESS
LEGAL/REGULATORY November 14, 2012, 1:34 pm
Congressional investigators on Wednesday took aim at a former colleague, Jon S. Corzine, blaming the onetime senator’s risk-taking at MF Global for accelerating the brokerage firm’s demise.
In excerpts from a broader MF Global report that is to be released on Thursday, Republican members of a Congressional panel outlined a withering critique of Mr. Corzine’s 19-month reign at the firm. Mr. Corzine, a former Democratic senator and governor from New Jersey, resigned as MF Global’s chief executive last fall after the firm raided customer accounts during a futile fight for survival.