Corzine, other execs grilled on MF Global
Former Gov. Jon Corzine (D-N.J.) was in the hot seat once again on Capitol Hill today.
Corzine testified before a Senate committee on MF Global, the failed securities firm that he was CEO of until his recent resignation. The former governor was joined by two other top executives from MF Global.
Corzine and the other executives got an earful from lawmakers as well as investors, who say MF Global affected many customers and farmers who had invested with them. Wild swings in the prices of products, crops and fuel could impact their livelihoods.
MF Global lost $1.2 billion in investor's money, cash that vanished when the company filed for bankruptcy.
The former executives were pressed repeatedly to explain how the loss occurred.
Corzine said he did not direct anyone to "misuse the money."