MF Global's Corzine blamed

摘要

LAST week, majority staff of the House financial services subcommittee on oversight and investigations released an autopsy of how commodity trading firm MF Global came to its ultimate demise and what can be done to prevent similar losses of customer funds in the future. It has been more than a year since MF Global collapsed, and with it, an estimated $1.6 billion in customer funds went missing. The subcommittee's 100-page report says decisions by former MF Global chairman and chief executive officerJon Corzine to chart a radically different course for MF Global and try to turn the 230-year-old commodity brokerage into a full-service investment bank were the cause of the firm's bankruptcy and failure to protect customer funds.