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Report blames ex-CEO Corzine for sinking MF Global
Posted By -NO AUTHOR- On 11/15/2012 @ 11:42 pm In Money | No Comments
(New York Post) It was Jon Corzine who sank MF Global last year — bringing financial pain to thousands of investors.
Corzine’s outsize appetite for risk plus his authoritative management style — which stifled challenges — brought down the commodities broker, according to a summary of a report by a House of Representatives subcommittee.
“Choices made by Jon Corzine during his tenure as chairman and CEO sealed MF Global’s fate,” said the chairman of the Financial Services Oversight and Investigations Subcommittee, Rep. Randy Neugebauer (R-Texas).
MF’s failure “represents a dereliction of his duty as MF Global’s chairman and CEO,” the report declared.
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