US Congress panel blames Corzine for MF Global fall

Poor management decisions by MF Global former CEO Jon Corzine triggered the brokerage firm’s collapse, while lax protections for customer funds contributed to the loss of an estimated US$1.6 billion of customer money, U.S. congressional investigators have determined.

Evidence unearthed by the House Financial Services Subcommittee on Oversight puts the blame squarely on Corzine, the panel’s chairman, Rep. Randy Neugebauer, said in a preview of the report that will be released on Thursday.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1082890/us-congress-panel-blames-corzine-mf-global-fall