GOP panel members blame Corzine in MF Global failure
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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.
Friday, May 17 2013 5:54 PM EDT2013-05-17 21:54:45 GMT
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard."
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard": it will stretch from 44th Street on Broadway all the way to 34th Street.
Friday, May 17 2013 8:21 AM EDT2013-05-17 12:21:42 GMT
A new photo exhibit at an art gallery in Chelsea is drawing the ire of residents who are the artist's subjects, unknowingly.
A new photo exhibit at an art gallery in Chelsea is drawing the ire of residents who are the artist's subjects, unknowingly. The artist, Arne Svenson, is reportedly taking the photos through their TriBeCa building windows. In some photos, the residents are bending over, sleeping and cleaning.
Thursday, May 16 2013 6:06 PM EDT2013-05-16 22:06:34 GMT
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
Thursday, May 16 2013 1:36 PM EDT2013-05-16 17:36:00 GMT
A water taxi struck a dock at Pier A and Battery Park Place in Manhattan on Thursday, according to FDNY officials. Two people suffered minor injuries. They refused medical attention.
A water taxi struck a dock at Pier A and Battery Park Place in Manhattan on Thursday, according to FDNY officials. Two people suffered minor injuries. They refused medical attention.
Thursday, May 16 2013 1:17 PM EDT2013-05-16 17:17:42 GMT
Several New York lawmakers are sounding the alarm about security and safety lapses at day care centers across New York City.
Several New York lawmakers are sounding the alarm about security and safety lapses at day care centers across New York City. In a report released Thursday, dozens of daycares cited by the Dept. of Health for serious and critical health code violations since 2010, have not fixed the problems and continue to operate without penalty.
Wednesday, May 15 2013 11:08 PM EDT2013-05-16 03:08:35 GMT
A judge in Manhattan put the brakes on the so-called Taxi of Tomorrow because the Nissan-built minivan does not come in a hybrid version -- a violation of the city code.
A judge in Manhattan put the brakes on the so-called Taxi of Tomorrow because the Nissan-built minivan does not come in a hybrid version -- a violation of the city code.
