April 4 Jon Corzine's aggressive bets on
European sovereign debt while head of the MF Global Holdings Ltd
brokerage led to the firm's dramatic collapse in
2011, according to a report by the bankruptcy trustee.
Former FBI director Louis Freeh acknowledged that a slow
U.S. economic recovery had played a role in MF Global's woes,
but he said "negligent conduct" contributed to the company's
"The risky business strategy engineered and executed by
Corzine and other officers and their failure to improve the
company's inadequate systems and procedures so that the company
could accommodate that business strategy contributed to the
company's collapse," said the 124-page report.