Tag:
scandal
Latest Headlines
Latest Headlines
The man who warned Jon Corzine--and paid with his job
The more compelling testimony in the Congressional hearing that featured two chief risk officers of the disgraced MF Global came from Michael Roseman, who appears to have been ousted by Jon Corzine and his cronies because of his concerns about the firm’s exposure to European sovereign debt.
Ro
CME Group tarnished by MF Global scandal
One of the ancillary victims in the MF Global scandal has been the CME Group, the premier domestic operator of derivatives exchanges.
It was not surprising when the CME Group took a very harsh tone toward MF Global and ex-MF Global CEO Jon Corzine, who was accused in straightforward fashion of
New evidence in the MF Global scandal
We've said all along that someone who worked at MF Global knows what happened to the missing $1 billion.
We were hopeful that these employees would step forward. But when prosecutors and investigators furiously investigate in a hot-house environment, there's always a chance that scapegoats wil
What motivates Jon Corzine?
As the insider trading trials heated up, much was made of the fact that the prosecution relied on techniques--mainly the use of wiretaps--that previously had been used on drug dealers and organized crime figures. Do prosecutors really think top Wall Street targets are akin to drug lords?
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Corzine digging even deeper hole
The good news is that at least Jon Corzine didn't plead the fifth in his three congressional hearings, which got testier with each one. But in the end, Corzine, the ex-CEO of MF Global, came off looking awful.
At best, he appeared to be a guy who was out of touch with his company's top execut
New theory about missing MF Global funds
The big question at MF Global is obvious: What happened to the missing $1 to $1.2 billion in customer accounts?
Most think it is somehow tucked away in overseas accounts, perhaps under the control of foreign trustees. Others think it might have been used to back trades gone awry and is now los
Jon Corzine's testimony contradicted
One of the problems about testifying before Congress is that what you say can be used against you later.
Goldman Sachs CEO Lloyd Blankfein found this out the hard way. Months after he had testified before Congress, his words came back to haunt him in the form of fairly direct accusations by se
MF Global fallout hits CME Group
The implosion of MF Global was a seismic event for the entire futures markets, including the top SROs.
The fact that a broker-dealer could simply lose $1 to $1.2 billion in customer money without a clue as to how it happened continues to boggle the mind. As does the fact that a CEO could run s
MF Global spotlight shifts to other executives
Much of the anger over the MF Global scandal has been directed toward former CEO Jon Corzine, who claims he has no idea how $1 to $1.2 billion in customer funds vanished.
But while he deserves scorn and condemnation, surely he's not the only culpable executive. So it's probably a good thing th
Corzine: Great trader, awful CEO
Should a wizened trader be tasked with running an entire firm?
That's an obvious question in light of the terrific article from the New York Times about Jon Corzine's management of MF Global before it scandalously imploded. Even as CEO, Corzine was trading for the firm, often on his BlackB
