Congressional investigators took aim yesterday at a former colleague, Jon S. Corzine, blaming the onetime senator's risk-taking at MF Global for accelerating the brokerage firm's demise, the New York Times DealBook blog reported yesterday. In excerpts from a broader MF Global report to be released today, Republican members of a Congressional panel outlined a withering critique of Corzine's 19-month tenure at the firm. 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 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. In a series of potential missteps, the report said, Corzine missed warning signs about MF Global's weak liquidity position and he torpedoed an overhaul of the firm's risk controls. Read more.
http://dealbook.nytimes.com/2012/11/14/congressional-report-blames-corz…
Click here to read the committee’s press release on the report.
http://financialservices.house.gov/news/documentsingle.aspx?DocumentID=…