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

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MF Global trustee threatens suit against Corzine

Former New Jersey Gov. Jon Corzine could face a lawsuit from the trustee trying to recover $1.6 billion in customer money from the collapse of the brokerage MF Global.

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

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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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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