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News Summary: Republicans blame Corzine in failure

Source : AP
Last Updated: Wed, Nov 14, 2012 22:15 hrs

: Republicans on a House panel that investigated the collapse of the brokerage firm MF Global are pinning the blame on ex-CEO Jon Corzine, a former Democratic senator and governor.

STRATEGY AND STYLE: Republicans say Corzine turned the brokerage into an investment bank making risky trades. They also say that Corzine didn't allow anyone to challenge his decisions.

HARD FALL: MF Global failed after betting $6.3 billion on European countries' debt that soured. It filed for bankruptcy protection in October 2011. More than $1 billion in customer money was discovered to be missing.



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