(Reuters) – When Henri Steenkamp, MF Global’s chief financial officer, appeared before two congressional panels about the firm’s collapse, he said he was in the dark over how some $1.6 billion in customer funds went missing. But a report from the bankruptcy trustee filed this week paints a different picture of an executive closely involved…
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Corzine’s first sin was to bet on MF Global – FT.com
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Whenever financial disaster strikes, it is tempting to try to identify the moment when it became inevitable. In the case of MF Global, was it when Jon Corzine, its former chief executive, started trading in European government bonds? Was it when MF Global first bent the rules on using client funds? My vote, after reading…
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Michael Crimmins: What the Press Refuses to See in JP Morgan and MF Global Scandals « naked capitalism
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Two former finance and political influence gods (Jon Corzine and Jamie Dimon) have tumbled back to earth. Yet, troublingly, the mythology that’s cowed the political establishment and the financial press for so long remains very much intact. Almost without exception, mainstream commentators are still desperately trying to frame the train wrecks at MF Global and…
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Francine McKenna on Trustee Reports for MF Global and JP Morgan’s Pinto Problem – Video
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Lauren Lyster interviews Francine accounting and regulatory guru Francine McKenna.
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Jon Corzine, economic dummy- NYPOST.com
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Jon Corzine is “the smartest guy I know in terms of the economy,” Vice President Joe Biden said not so long ago. President Obama praised Corzine as a key architect of the “national recovery plan” he implemented after taking office back in 2009. Oops. Consider the long report issued Monday on the latest of Corzine’s…
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Comptroller Sees Risk-Management Breakdown at JP Morgan – Wall Street Journal
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Comptroller Sees Risk-Management Breakdown at JP MorganWall Street JournalBy SCOTT PATTERSON WASHINGTON—The JP Morgan Chase & Co. trading activity that lost more than $2 billion stemmed from a breakdown in the firm's risk-management activitie…
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MF Global Trustee Says Claims May Exceed $3 Billion – NYTimes.com
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The trustee overseeing the bankruptcy of MF Global estimates that creditors, including banks, big investors and service providers, could have more than $3 billion in claims against the failed brokerage. In his latest report to the bankruptcy court, the trustee, Louis J. Freeh, outlines his investigation of MF Global, which collapsed in October after misusing…
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JPMorgan’s Other Messy Problem: MF Global’s Missing Money – Forbes
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JPMorgan's Other Messy Problem: MF Global's Missing MoneyForbesAs the nation's largest bank by assets JPMorgan Chase is bound to have its share of legal troubles but recently it's been party to some of the ugliest accusations. The most …
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JPMorgan Chase Returns Lost MF Global Funds Worth $600 Million – Huffington Post
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JPMorgan Chase Returns Lost MF Global Funds Worth $600 MillionHuffington PostAP | Posted: 06/02/2012 1:35 pm Updated: 06/03/2012 10:32 am NEW YORK (AP) — JPMorgan Chase has returned about $600 million that was held at the bank when securities firm MF…
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Facebook Shares Retreat Below $29 as Options Trading Begins – San Francisco Chronicle
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FirstpostFacebook Shares Retreat Below $29 as Options Trading BeginsSan Francisco ChronicleFacebook shares climbed as high as $45 on May 18, when the shares ended the day with a price-earnings ratio of 83.1, making the Menlo Park, California-based comp…
