MF Global buck ends at Corzine

Democrat response

According to Bloomberg, Rep. Mike Capuano (D-Mass), the ranking member on the subcommittee, and other Democrats are preparing an addendum to the report. “I am no co-sponsoring the majority’s staff report on MF Global primarily due to an insufficient amount of time to review the report and go over it with other Democratic Subcommittee members,” he said in an emailed statement.

The investigation included three congressional hearings, more than 50 interviews and a review of documents from MF Global, former brokerage employees and regulators, according to the summary.

Other findings

In addition to its findings regarding Corzine’s role at MF Global, the report also is expected to address regulatory agencies’ failure to share critical information with each other, failure by credit rating agencies to sufficiently review MF Global’s public filings, and concerns about the New York Federal Reserve’s decision to designate MF Global as a primary dealer despite the company’s troubled financial situation.

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