One of our constant complaints about how the ongoing investigations in the MF Global scandal has been how regulatory agencies, industry leaders and Congressional committees talk about lessons learned and changes that need to be made as if the issue were resolved
I bet Christine Serwinski didn’t picture herself testifying before a Congressional committee on March 28, 2012 back when she tendered her resignation as CFO of MF Global Inc. North America on June 27, 2011.
For those holding out hope that the most recent Congressional hearings on the MF Global bankruptcy would clear up some confusion, Wednesday’s hearing before the House Financial Services Oversight and Investigations subcommittee entitled “The Collapse of MF Global: Part 3” was a huge disappointment.
Edith O’Brien, the MF Global Holdings Ltd. assistant treasurer who has become a key figure in the disappearance of as much as $1.6 billion in customer funds, declined to answer questions from House lawmakers.
Edith O’Brien, the Chicago-based treasurer of MF Global Holdings Ltd.’s broker-dealer, was pulled from back-office obscurity onto center stage last year in testimony to Congress by former chief executive Jon S. Corzine.