Jon Corzine, the former chairman of MF Global Holdings Ltd., asked that a Commodity Futures Trading Commission lawsuit against him over the firm’s collapse be dismissed because he exercised reasonable diligence and relied on information and advice from others.
Mayor Bill de Blasio, whose SUV was caught on video speeding and ignoring stop signs two days after he demanded that drivers obey traffic laws, said the New York Police Department was responsible for the vehicle’s operation.
Perhaps we should no longer be surprised by the arrogance of Wall Street executives. Still, the level of hubris and bullying displayed by Jon Corzine during his 19-month tenure as chairman and chief executive officer of MF Global Holdings Ltd. -- as described in a recent congressional report about the company’s 2011 collapse -- stands out for sheer offensiveness.
Jon Corzine, former chief executive of bankrupt futures brokerage MF Global Holdings Ltd., has said he never ordered any misuse of customer funds to help his firm stay afloat as it dealt with margin calls on bad bets.