Report blames Corzine’s strategy for MF Global collapse
Chief executive of collapsed broker at fault for risky strategy that destroyed company, House subcommittee says
A report from a subcommittee of the House Committee on Financial Services blames chief executive and chairman Jon Corzine for the collapse of the broker-turned-bank MF Global in 2011. The oversight and investigations subcommittee, whose inquiry has been under way since shortly after the company's collapse in October 2011, blamed Corzine for creating an "authoritarian atmosphere", sidelining risk managers, dictating a risky trading strategy himself and concealing the company's finances from the
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