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Corzine strategy led to MF Global collapse: trustee

Jon Corzine's aggressive bets on European sovereign debt while head of the MF Global Holdings Ltd brokerage led to the firm's dramatic collapse in 2011, according to a report by the bankruptcy trustee.

 

Corzine:Don't know where firm's missing money is

Jon Corzine House Panel Hearing

Jon Corzine told a congressional panel Thursday that he never intended to break rules requiring failed securities firm MF Global to safeguard client funds. He also said he doesn't know what happened to an estimated $1.2 billion that went missing.

Senh: It's probably under his mattress. That doesn't inspire confidence when you have no idea where your clients' money is. How is that even possible?

 

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