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(Image from article: "MF Global goes bankrupt, is 1st U.S. casualty of European crisis")

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CEO Corzine steps down at MF Global

He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers. Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure. Less than a week ago, Corzine had expected to sell his firm, MF Global. By week's end, it had collapsed into bankruptcy. And Corzine had hired a criminal defense lawyer in the face of an investigation of the firm by the FBI and federal prosecutors.

Senh: When there is such an obvious conflict of interest as this, why isn't Gary Gensler removed from the investigation team. The guy has worked with and has close ties to Jon Corzine. It's apparent that he's not going to have the best interest of clients who has lost millions.

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MF Global goes bankrupt, is 1st U.S. casualty of European crisis

The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis.

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