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Congressional Report Blames Corzine for MF Global’s Collapse
Posted By kurtnimmoadmin On November 14, 2012 @ 4:25 pm In Economic Crisis,Old Infowars Posts Style,Tile | Comments Disabled
November 14, 2012
Jon S. Corzine, MF Global’s former chief executive, at a House panel in 2011.Jonathan Ernst/ReutersJon S. Corzine, MF Global’s former chief executive, at a House panel in 2011.
Congressional investigators took aim on Wednesday 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 to be released on Thursday, Republican members of a Congressional panel outlined a withering critique of Mr. Corzine’s 19-month tenure 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 its life.
While the Republican report avoided pinning blame on Mr. Corzine for the missing customer money, sidestepping whether a crime was committed, it argued that his fixation with risk positioned him as a central player in the firm’s collapse.
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