Corzine on MF: 'Dunno' Former New Jersey Gov. Jon Corzine told members of Congress yesterday he never intended to break any rules while heading failed securities firm MF Global — and he has no idea what happened to $1.2 billion in missing funds. Corzine, a former chief of Goldman Sachs and a former U.S. senator from New Jersey, appeared before the House Agriculture Committee to testify under subpoena about what caused the stunning collapse of MF Global, which filed for bankruptcy Oct. 31, becoming the eighth-largest bankruptcy in U.S. history. “I simply do not know where the money is, or why the accounts have not been reconciled,” said the 64-year-old Corzine, who added that he was sorry for placing bets on European debt that proved disastrous.
Finance, Investment, Politics, and World Events. Rare Color Photos From the Depression Era. Enron: The Smartest Guys in the Room. At this writing in early 2006, the principal players in the sordid drama of Enron -- believed by some accusers to be the most egregious corporate malefactors in American history -- are about to go on trial for pillaging their company and devaluing its stock, leaving thousands of employees and investors holding the bag while they absconded with millions.
Alex Gibney's documentary examines the meteoric rise and spectacular fall of this Houston, Texas-based firm, which for a time made its top officers wealthy beyond their wildest dreams, and all by engaging in business practices alleged to have been little more than a complex shell game. Enron founder Ken Lay and his successor as CEO, Jeff Skilling, are pretty well skewered in Gibney's film, which in its own way is every bit as riveting as a suspense thriller. The Money Fix.