Corzine: 'Don't know' where MF Global customers' $1.2B wentReuters suggests that Corzine's plea of ignorance may have been done to insulate him from some legal actions but that doesn't answer the question of why he was paid even one penny.
By Kevin McCoy, USA TODAY
USA Today
Testifying under subpoena at a House Agriculture Committee hearing, Corzine, a former Democratic U.S. senator and ex-Goldman Sachs chief, portrayed himself as stunned about the massive shortfall that emerged as regulators and federal investigators began probing MF Global's Oct. 31 bankruptcy.
"I simply do not know where the money is, or why the accounts have not been reconciled to date," said Corzine, 64, in his first public comments since his resignation was announced four days after the bankruptcy filing.
Friday, December 09, 2011
WHY DO THESE PEOPLE GET ANY PAY?
The incompetence of some MOTU is simply astounding. Back in 2009, the CEO of Thompson SA told investors that he didn't know if his company owed money on some credit default swaps. In 2011, we have another great example:
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Incompetent? Oh, you can bet if there were established prison terms for "not knowing" many of what was left of this class would make sure they "knew."
Oh, you can bet if there were established prison terms for "not knowing" many of what was left of this class would make sure they "knew."
I was listening to the BBC World Service cover the settlement in the Massey mine collapse case and one of the men they interviewed said he wanted to see someone go to jail.
I completely agree with that thought.
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