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Topic - Mf Global
While the financial markets are closely eyeing the shutdown of the government, Wall Street itself is barely being monitored by one of its federal watchdogs, who says it's had to furlough most of its staff.
Is anyone in the liberal world ever responsible or accountable for anything? Bankruptcy Judge Martin Glen has denied a request from a coalition of former MF Global customers to depose former New Jersey Gov. Jon Corzine and other senior company officials, saying the customers have no standing because they were not direct clients of MF Global Holdings Inc.
Republicans on a House panel that investigated the collapse of the brokerage MF Global are pinning the blame on ex-CEO Jon Corzine, a former Democratic senator and governor.
Former New Jersey Democratic 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 firm MF Global.
Even as he finds himself the public face of investment firm MF Global's bankruptcy and admitted to lawmakers that he had no idea how client funds disappeared, Congress and the administration have voiced no public concern about Bradley Abelow's role advising the $8.6 billion government agency on its finances.
Where there is billowing, suffocating smoke, there generally is fire. The dark smoke of corruption is billowing around former Democratic senator, New Jersey governor, Goldman Sachs bigwig and MF Global Chairman and CEO Jon Corzine. A pall of suspicion has followed Corzine the Corrupt's career like flies at a summer barbecue.
Questioned by senators he once served with, Jon Corzine told a panel Tuesday that he never told anyone to "misuse" customer money that vanished when MF Global collapsed this fall.
The Harrisburg City Council has appealed a judge's decision to throw out the bankruptcy petition of Pennsylvania's debt-choked capital city, its attorney said.
Jon Corzine will tell a House panel Thursday that he doesn't know the location of client money that went missing when MF Global failed. And he will argue that he inherited a firm doomed by the risks his predecessors took.
A federal rule adopted Monday places tighter restrictions on how U.S. trading firms can invest their customers' money. The action comes amid a federal investigation into whether MF Global illegally tapped its clients' accounts before filing for bankruptcy.
A congressional panel has subpoenaed former Sen. Jon Corzine to testify next week about his role leading MF Global, a brokerage firm that collapsed this fall after a disastrous bet on European debt.
The top Democrat and Republican on a key Senate panel say Congress should look deeply into what led to the collapse of MF Global, a trading firm run by one of their former colleagues.
The court-appointed trustee overseeing MF Global's bankruptcy says up to $1.2 billion is missing from customer accounts, double what the firm had reported to regulators last month.
Did the great Jon Corzine not learn from the greatest financial meltdown seen in the U.S. economy? The answer is simple, here is another example to the entrusted "gambling with other people's money."