Reuters: Bankruptcy News: Corzine strategy led to MF Global collapse -trustee

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Corzine strategy led to MF Global collapse -trustee Apr 4th 2013, 13:50 April 4 | Thu Apr 4, 2013 9:50am EDT April 4 (Reuters) - 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. Former FBI director Louis Freeh acknowledged that a slow U.S. economic recovery had played a role in MF Global's woes, but he said "negligent conduct" contributed to the company's failure. "The risky business strategy engineered and executed by Corzine and other officers and their failure to improve the company's inadequate systems and procedures so that the company could accommodate that business strategy contributed to the company's collapse," said the 124-page report.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions