GOP panel members blame Corzine in MF Global failure
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WASHINGTON (AP) -- Republicans on a House panel that investigated the collapse of the brokerage MF Global are pinning the blame on ex-CEO Jon Corzine, a former Democratic senator and governor.
The Republicans say the investigation shows that Corzine's decisions caused MF Global's bankruptcy in October 2011 and its loss of more than $1 billion in customer money.
They say Corzine turned the brokerage firm into an investment bank making risky trades. They also say Corzine ran the firm in an authoritarian manner and didn't allow anyone to challenge his decisions.
The firm failed after betting $6.3 billion on European debt that soured.
The subcommittee's report of its investigation is being released Thursday.
Monday, May 20 2013 6:05 PM EDT2013-05-20 22:05:22 GMT
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
Three people have been charged with taking bribes from a Chinese government-supported institution in exchange for restricted research from a New York University lab.
Three people have been charged with taking bribes from a Chinese government-supported institution in exchange for restricted research from a New York University lab.
Sunday, May 19 2013 10:57 PM EDT2013-05-20 02:57:40 GMT
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
Friday, May 17 2013 5:54 PM EDT2013-05-17 21:54:45 GMT
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard."
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard": it will stretch from 44th Street on Broadway all the way to 34th Street.
Friday, May 17 2013 8:21 AM EDT2013-05-17 12:21:42 GMT
A new photo exhibit at an art gallery in Chelsea is drawing the ire of residents who are the artist's subjects, unknowingly.
A new photo exhibit at an art gallery in Chelsea is drawing the ire of residents who are the artist's subjects, unknowingly. The artist, Arne Svenson, is reportedly taking the photos through their TriBeCa building windows. In some photos, the residents are bending over, sleeping and cleaning.
Thursday, May 16 2013 6:06 PM EDT2013-05-16 22:06:34 GMT
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
