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November 14, 2012

Congressional Panel Pins Blame For MF Global Collapse on Jon Corzine (D)

Oh, yeah. Among the dozen other vote-moving things Romney could have brought up -- former Democratic governor and big Obama bundler Jon Corzine, either incompetent or thieving or, as it usually is, both.

So, he was at fault. I'm glad we know now, on November 13th.

In a summary of a report due for release on Thursday morning, Rep. Randy Neugebauer of the House Financial Services Subcommittee on Oversight and Investigations said Corzine "dramatically changed MF Global's business model without fully understanding the risks associated with such a radical transformation."

The Republican-led subcommittee didn't directly address whether laws were broken at MF Global, but provided sharp criticism of Corzine's management. Mike Capuano, the subcommittee's ranking Democrat, said that while he agreed with a number of the report's observations, he was not signing onto it because of insufficient time for review. He and other Democrats will instead submit an addendum to the majority's findings.

Can't wait for that addendum. Let me guess. "Mistakes were made."

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posted by Ace at 04:27 PM

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