Corzine Decisions Felled MF Global, House Republicans Say
This article is for subscribers only.
MF Global Holdings Ltd. collapsed last year because of mistakes made by former chairman and chief executive officer Jon S. Corzine, U.S. House Republicans said in a report on the futures brokerage’s path to bankruptcy.
Corzine, a Democrat who served in the U.S. Senate and as New Jersey governor before taking the helm at MF Global, pushed the firm into new areas without reviving its core commodities trading business, lawmakers led by Representative Randy Neugebauer of Texas said in a 101-page report stemming from a year-long investigation. U.S. regulators under President Barack Obama failed to coordinate oversight of the company, they said.