Republican members from the House Financial Services Subcommittee on Oversight & Investigations released Thursday a report on the MF Global collapse.It places much of the blame on then CEO Jon Corzine. In a news conference on Capitol Hill, Subcommittee Chairman Rep. Randy Neugebauer says an investigation revealed mismanagement at its highest levels, poor company internal controls and a lack of recordkeeping.
The firm, headed by the Former New Jersey Governor and Senator filed for bankruptcy October 31, 2011. It was the 8th largest U.S. bankruptcy and the first time customers’ funds went missing.
Also commenting on the report -- full Committee Chairman Rep. Spencer Bachus, Rep. Nan Hayworth and Rep. Francisco Canseco.