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Friday, November 4, 2011

Corzine Resigns From MF Global As Feds Investigate Firm’s Practices

In this Jan. 9, 2011 file photo, former New Jersey Gov. Jon S. Corzine reflects on his four year term in office during an interview with The Associated Press. (AP)

In this Jan. 9, 2011 file photo, former New Jersey Gov. Jon S. Corzine reflects on his four year term in office during an interview with The Associated Press. (AP)

The week started with the eighth largest bankruptcy in U.S. history, when MF Global went under. And Friday the other book-end– Jon Corzine, former Democratic Senator and New Jersey Governor, will no longer be chairman and CEO.

In a statement he said that resigning would be “best for the firm.” He will not have any severance pay either. The New York Times reports he’s also believed to have hired a leading white-collar criminal defense lawyer, as U.S. regulators are investigating why around $633 million in customer money went missing.

Guest:

  • Ben Protess, reporter for the New York Times

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