d******o
发帖数: 2489 | 1 If this is true, some heads will roll !
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WASHINGTON (AP) -- MF Global, the securities firm led by Jon Corzine,
admitted using clients' money as its financial troubles mounted, a federal
official says. The FBI is expected to investigate whether the firm's actions
violated criminal laws, according to two people familiar with the situation.
An MF Global executive told regulators early Monday that the company had
diverted client money, according to an official familiar with a separate
probe by regulators. It isn't clear where the money ended up or what it
might have been used for, the official said.
All three people spoke on condition of anonymity because they weren't
authorized to discuss the matter publicly.
MF Global filed for bankruptcy protection Monday, after a big bet on
European debt threatened to topple it. It became the first big Wall Street
casualty of the European debt crisis.
And it's the latest public embarrassment for Corzine.
He was ousted as chairman of Goldman Sachs Group Inc. in 1999 by executives
including Henry Paulson, who later became Treasury secretary. Later, he lost
his bid for a second term as New Jersey governor after sinking millions of
his own money into the campaign. Frustrated voters had hoped his banking
experience would help him clean up the state's finances.
MF Global was seen as Corzine's shot at redemption on Wall Street. He hoped
to turn it into a major investment bank and restore his stature in the
financial world.
After taking over MF Global last year, Corzine led MF Global to make more
trades for the company's own profits, a practice known as proprietary
trading. Proprietary trading helped turn Goldman into a trading powerhouse
in recent years.
Under Corzine's leadership, MF Global bet $6.3 billion on debt issued by
Italy, Spain and other European nations with troubled economies. Those bonds
have lost value in recent weeks as fears have intensified that some
European countries might default. | e***z
发帖数: 7126 | 2 昨天的新闻了。你是每梅8？这点小事也做镇精状
actions
situation.
【在 d******o 的大作中提到】
: If this is true, some heads will roll !
: ------------
: WASHINGTON (AP) -- MF Global, the securities firm led by Jon Corzine,
: admitted using clients' money as its financial troubles mounted, a federal
: official says. The FBI is expected to investigate whether the firm's actions
: violated criminal laws, according to two people familiar with the situation.
: An MF Global executive told regulators early Monday that the company had
: diverted client money, according to an official familiar with a separate
: probe by regulators. It isn't clear where the money ended up or what it
: might have been used for, the official said.
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