Republicans blame Corzine in MF Global failure - Dallas News | myFOXdfw.com

GOP panel members blame Corzine in MF Global failure

Posted: Updated:

WASHINGTON (AP) -- 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.

The Republicans say the investigation shows that Corzine's decisions caused MF Global's bankruptcy in October 2011 and its loss of more than $1 billion in customer money.

They say Corzine turned the brokerage firm into an investment bank making risky trades. They also say Corzine ran the firm in an authoritarian manner and didn't allow anyone to challenge his decisions.

The firm failed after betting $6.3 billion on European debt that soured.

The subcommittee's report of its investigation is being released Thursday.

  • Manhattan NewsManhattan NewsMore>>

  • 5 annoying things about the New York City subway

    5 annoying things about the New York City subway

    Thursday, July 31 2014 2:55 PM EDT2014-07-31 18:55:21 GMT
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
    Subway problems are annoying, but it’s just a part of living in New York City. Public transportation isn’t glamorous. It’s a pain. It’s a convenience that can cause an inconvenience. Here is a list of five annoying things about the subway system.
  • US issues travel warning over Ebola

    US issues travel warning over Ebola

    Thursday, July 31 2014 2:22 PM EDT2014-07-31 18:22:47 GMT
    U.S. health officials on Thursday warned Americans not to travel to the three West African countries hit by the worst recorded Ebola outbreak in history.  The travel advisory applies to non-essential travel to Guinea, Liberia and Sierra Leone.
    U.S. health officials on Thursday warned Americans not to travel to the three West African countries hit by the worst recorded Ebola outbreak in history.  The travel advisory applies to non-essential travel to Guinea, Liberia and Sierra Leone.
  • Summit at City Hall on police-community relations

    Summit at City Hall on police-community relations

    Thursday, July 31 2014 1:20 PM EDT2014-07-31 17:20:15 GMT
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices