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[quote="Guest"][quote="Guest"]We all know how to read the newspaper.[/quote] That's very optimistic of you.[/quote]
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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>guesswho</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Sat, Nov 12 2011, 8:46 am EST<span class="gen"> </span> Post subject: Crowdsourced Corzine portrait at "scene of the crime"</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"><a href="http://bottomline.msnbc.msn.com/_news/2011/11/11/8757063-corzines-portrait-on-sale-for-85000" target="_blank">http://bottomline.msnbc.msn.com/_news/2011/11/11/8757063-corzines-portrait-on-sale-for-85000</a> <br /> <br /><img src="http://media.cnbc.com/i/CNBC/Sections/News_And_Analysis/__Story_Inserts/graphics/__ART/corzine-painting-200.jpg" border="0" /> <br /> <br />NEW YORK — After putting the finishing touches on his painting of Jon Corzine, the former CEO of the collapsed futures broker MF Global Holdings Ltd, artist Geoffrey Raymond took the portrait to what he called the "scene of the crime": Wall Street. <br />Raymond stood outside the New York Stock Exchange on Thursday with his five-foot tall painting of Corzine to get those passing to write comments on the canvas about the banker who was New Jersey governor from 2006-2010 and CEO of Goldman Sachs back in the 1990s. <br />He has put it up for sale at a price of $85,000 for the next week, during what Raymond calls the "annotation period." After that, he will raise the price north of $100,000. <br />It is a familiar routine for the artist. He has gained fame for painting troubled Wall Street figures, including former Bear Stearns' CEO Jimmy Cayne and former Lehman Brothers CEO Richard Fuld, and then annotating the portraits with comments collected from the public. <br />"When you stand in front of the stock exchange, it's this huge tourist attraction," Raymond said. "So you get this weird mix of financial people working in the Wall Street area and then a ton of Americans from all over the country. You get a broad spectrum of people." <br />Raymond said passersby often have positive remarks about his subjects, but Corzine, who critics say drove MF Global into bankruptcy through bad bets on European debt, has proved an exception. <br />"Usually someone has something nice to say, but for Corzine I've noticed it's been universally negative," he said. "New Jersey residents have a sense of betrayal especially." <br />Corzine, who resigned as CEO soon after the firm filed for bankruptcy last week, could not be reached for comment. <br />Raymond said he plans to put an image of the painting up on a few financial blogs to seek out more comments which he will transcribe onto the painting himself. <br />Raymond plans to hold onto the painting unless a buyer emerges. <br />"I don't engage in marketing other than standing outside and handing people pens," he said. <br /> <br /><img src="http://msnbcmedia.msn.com/j/MSNBC/Components/Photo/_new/111111-westchester-hmed-957a.photoblog600.jpg" border="0" /></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>guest1111</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 9 2011, 11:18 pm EST<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Of course! He's a left wing radical liberal who is quite accustomed to spending other peoples money. The difference this time, is he's not the governor hiding behind a tax hike, and he was caught! No different than Madoff! The scary thing is that most liberal Jersians loved the tax hikes until they had to cough up the dough and watch the money spent on welfare,EBT, Medicaid and other left wing programs. You get what you vote for. Unfortunately he is tight with Barry (Barack's real name), so he'll get a pass of some sort it's guaranteed!</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 9:48 pm EDT<span class="gen"> </span> Post subject: Re: FBI investigates Corzine</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">What about Obama He takes the wall street cash too. <br /></td> </tr></table><span class="postbody"> <br /> <br />What is your point? This was a post about Corzine not political contributions. Democrats and Republicans both take huge money from Wall Street. Different story and not particularly partisan.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 6:07 pm EDT<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Fortune Magazine even speculated that Corzine is in deep trouble. <br /> <br />Is Jon Corzine going to jail? <br /> <br />By Dan Primack November 2, 2011: 2:57 PM ET <br /><img src="http://fortunewallstreet.files.wordpress.com/2011/11/jon_corzine1.jpg" border="0" /> <br /> <br />This may just be the beginning of Jon Corzine's troubles. <br /> <br />Jon Corzine is unlikely to ever again work in finance, after overseeing this week's collapse of brokerage MF Global. But he may have much bigger things to worry about. Like going to jail. <br /> <br />Federal officials reportedly say that MF Global (MFGLQ) has admitted to transferring hundreds of millions of dollars of client money into company accounts, perhaps to cover investment losses. This is on top of Craig Donohue, CEO of the Chicago Mercantile Exchange, saying that MF Global wasn't "in compliance" with the CMOE's cash management regulations. <br /> <br />"The first thing you learn on the first day of your first financial job is that client money is not to be mixed with corporate money," says a source familiar with MF Global. "Nobody could have done this by accident." <br />... <br /><a href="http://finance.fortune.cnn.com/2011/11/02/jon-corzine-mfglobal-to-jail/" target="_blank">http://finance.fortune.cnn.com/2011/11/02/jon-corzine-mfglobal-to-jail/</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 5:59 pm EDT<span class="gen"> </span> Post subject: Re: FBI investigates Corzine</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">What about Obama He takes the wall street cash too. <br /> <br /> <br /></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">Jon Corzine, now the center of an FBI investigation into the handling of hundreds of millions of dollars invested in his securities firm, was one of the leading Wall Street fundraisers for President Obama’s campaign and suggested to investors that he might take a top administration post if the president were re-elected. <br />His new legal troubles, sparked by the bankruptcy filing of his investment firm, MF Global, could complicate the president’s efforts to raise money from the financial community given Corzine’s central role in those efforts. <br />A recent list of top “bundlers” or elite fundraisers released by Obama’s campaign listed Corzine in the highest category -- reporting that he had raised more than $500,000 for the campaign. A substantial chunk of those funds were collected at a $35,800 per ticket fundraiser that Corzine hosted at his wife’s spacious Fifth Avenue apartment last April -- an event that was touted at the time as part of a concerted effort by the president’s campaign team to reach out to well-heeled Wall Street donors who had been alienated by some of his policies and previous public comments. <br />Just a few months after that event, Corzine’s firm, MF Global, surprised many Wall Street investors by issuing highly unusual securities notes that appeared to highlight Corzine’s close relationship with the White House: The notes suggested that the former New Jersey governor might be in line for a top administration post should the president get re-elected. <br />The notes promised to pay an extra 1% in interest rates in the event of “the departure of Mr. Corzine as our full time chief executive officer due to his appointment to a federal position by the President of the United States and his confirmation…by the United States Senate prior to July 1, 2013.” <br />Some veteran Wall Street analysts said they couldn’t recall ever seeing such a contingency written into securities notes. “It was bizarre,” said Christopher Whalen, a Wall Street analyst. <br />There was speculation in the financial press at the time that Corzine might be a candidate to replace Tim Geithner as Secretary of the Treasury. But today, an Obama campaign official declined to comment on Corzine’s legal troubles -- or whether Corzine was ever being considered for an appointment. <br />“He’s one of our volunteer fundraisers,” said the campaign official when asked about Corzine, adding that the president’s is the only presidential campaign that discloses the identities of its bundlers. <br />The investigation into Corzine’s firm, MF Global, was triggered by reports of hundreds of millions of dollars in missing funds and findings by regulators that MF Global may have broken rules requiring it to keep client’s money and company funds in separate accounts. <br />Ironically, on the same day that Corzine’s legal troubles were erupting -- posing potential problems for the president’s Wall Street fundraising efforts -- GOP rival Mitt Romney was holding one of his biggest New York fundraisers yet at a midtown Manhattan hotel. <br />A copy of the invite shows the fundraiser had more than 100 co-chairs, many of them top executives on Wall Street such as hedge-fund billionaire John Paulson, who has already donated $1 million to a “Super PAC” backing Romney’s candidacy.</td> </tr></table><span class="postbody"></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 5:51 pm EDT<span class="gen"> </span> Post subject: FBI investigates Corzine</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Jon Corzine, now the center of an FBI investigation into the handling of hundreds of millions of dollars invested in his securities firm, was one of the leading Wall Street fundraisers for President Obama’s campaign and suggested to investors that he might take a top administration post if the president were re-elected. <br />His new legal troubles, sparked by the bankruptcy filing of his investment firm, MF Global, could complicate the president’s efforts to raise money from the financial community given Corzine’s central role in those efforts. <br />A recent list of top “bundlers” or elite fundraisers released by Obama’s campaign listed Corzine in the highest category -- reporting that he had raised more than $500,000 for the campaign. A substantial chunk of those funds were collected at a $35,800 per ticket fundraiser that Corzine hosted at his wife’s spacious Fifth Avenue apartment last April -- an event that was touted at the time as part of a concerted effort by the president’s campaign team to reach out to well-heeled Wall Street donors who had been alienated by some of his policies and previous public comments. <br />Just a few months after that event, Corzine’s firm, MF Global, surprised many Wall Street investors by issuing highly unusual securities notes that appeared to highlight Corzine’s close relationship with the White House: The notes suggested that the former New Jersey governor might be in line for a top administration post should the president get re-elected. <br />The notes promised to pay an extra 1% in interest rates in the event of “the departure of Mr. Corzine as our full time chief executive officer due to his appointment to a federal position by the President of the United States and his confirmation…by the United States Senate prior to July 1, 2013.” <br />Some veteran Wall Street analysts said they couldn’t recall ever seeing such a contingency written into securities notes. “It was bizarre,” said Christopher Whalen, a Wall Street analyst. <br />There was speculation in the financial press at the time that Corzine might be a candidate to replace Tim Geithner as Secretary of the Treasury. But today, an Obama campaign official declined to comment on Corzine’s legal troubles -- or whether Corzine was ever being considered for an appointment. <br />“He’s one of our volunteer fundraisers,” said the campaign official when asked about Corzine, adding that the president’s is the only presidential campaign that discloses the identities of its bundlers. <br />The investigation into Corzine’s firm, MF Global, was triggered by reports of hundreds of millions of dollars in missing funds and findings by regulators that MF Global may have broken rules requiring it to keep client’s money and company funds in separate accounts. <br />Ironically, on the same day that Corzine’s legal troubles were erupting -- posing potential problems for the president’s Wall Street fundraising efforts -- GOP rival Mitt Romney was holding one of his biggest New York fundraisers yet at a midtown Manhattan hotel. <br />A copy of the invite shows the fundraiser had more than 100 co-chairs, many of them top executives on Wall Street such as hedge-fund billionaire John Paulson, who has already donated $1 million to a “Super PAC” backing Romney’s candidacy.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 11:59 am EDT<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">We all know how to read the newspaper.</td> </tr></table><span class="postbody"> <br /> <br />That's very optimistic of you.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 11:13 am EDT<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody"></span><table width="90%" cellspacing="1" cellpadding="3" border="0" align="center"><tr> <td><span class="genmed"><b>Guest wrote:</b></span></td> </tr> <tr> <td class="quote">Why are these articles even posted here? We all know how to read the newspaper.</td> </tr></table><span class="postbody"> <br /> <br />You don't have to read and reply to posts you don't like or you can just read on the web and don't come here.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 9:21 am EDT<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Why are these articles even posted here? We all know how to read the newspaper.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Nov 2 2011, 8:35 am EDT<span class="gen"> </span> Post subject: Re: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">FBI investigating missing money at MF Global <br /> <br />By Jennifer Liberto @CNNMoney November 1, 2011: 7:17 PM ET <br /> <br />WASHINGTON (CNNMoney) -- The FBI and federal prosecutors are investigating how some $600 million of MF Global customers' money has gone missing, CNN learned Tuesday from sources close to the probe. <br /> <br />The investigation of MF Global (MF) is being conducted by the FBI and other federal regulators, including the U.S. Securities and Exchange Commission and the Commodities Futures Trading Commission. <br /> <br />This past weekend, executives at MF Global had been scrambling to sell the firm to Interactive Brokers, but the missing money cost the firm the deal and forced it into bankruptcy, regulators said. <br /> <br />Earlier on Tuesday, Craig Donohue, CEO of CME Group (CME), the operator of the nation's largest commodity exchanges, told analysts that his firm has determined MF Global had broken government and CME rules requiring it to keep its customers' funds separate from the firm's assets. <br /> <br />Donohue said the CME is still investigating the extent of the violation. He also announced that floor brokers and traders guaranteed by MF Global or its division have been barred from CME's trading floors. <br /> <br />FBI spokesman Tim Flannelly said he couldn't confirm or deny an FBI investigation. <br /> <br />MF Global, (MF) a Wall Street brokerage firm led by former New Jersey governor and Goldman Sachs CEO Jon Corzine, filed for Chapter 11 protection on Monday. <br /> <br />MF Global did not return requests for comment. <br /> <br />MF Global's downfall has been attributed to, among other things, making bad bets on some $6.3 billion of European government debt. <br /> <br />When those bets went sour and its financial troubles worsened, MF Global may have tapped its clients money, according to the Wall Street Journal. It's unclear how the money may have been used. <br /> <br />Using clients money to help its own bottom line through risky bets would violate Commodities Futures Trading Commission rules on such trades, according to regulators and financial experts. <br /> <br />Financial experts say that they expect the investigation to turn up more questions in coming days. Expect congressional inquiries to follow, said Brian Gardner with investment firm Keefe, Bruyette & Woods. <br /> <br />"The question with MF Global is going to be: Was this fraudulent or was it sloppy paperwork and sloppy oversight?" Gardner said. "I think there are going to be lots of questions for CME and CFTC and a lot of good congressional hearings." <br /> <br /><a href="http://money.cnn.com/2011/11/01/news/economy/mf_global_fbi_investigation/index.htm" target="_blank">http://money.cnn.com/2011/11/01/news/economy/mf_global_fbi_investigation/index.htm</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Tue, Nov 1 2011, 8:10 am EDT<span class="gen"> </span> Post subject: Hundreds of millions missing from Corzine-run brokerage firm</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Why am I not surprised <br /><span style="font-weight: bold">"Hundreds of millions missing from Corzine-run brokerage firm"</span> <br /> <br /><a href="http://www.msnbc.msn.com/id/45114515/ns/business-us_business/#.Tq_g-t6ImU8" target="_blank">http://www.msnbc.msn.com/id/45114515/ns/business-us_business/#.Tq_g-t6ImU8</a> <br /> <br />NEW YORK — Hundreds of millions of dollars of customer's money has gone missing from the brokerage firm run by former New Jersey governor Jon Corzine, sources told The New York Times. <br />The New York-based company, MF Global, filed for bankruptcy Monday following bad bets on euro zone debt. <br />The discovery of the missing millions stopped a last-minute deal to sell a major part of MF Global to another brokerage firm from going ahead, The New York Times reported. <br />Corzine, 64, who once ran Goldman Sachs before becoming a U.S. senator and then governor of New Jersey, had been trying to turn the more than 200-year-old MF Global into a mini Goldman by taking on more risky trades. <br />But once regulators forced it to fully disclose the bets on debt issued by countries including Italy, Portugal and Spain, it rapidly unraveled with no buyers willing to step in. <br />MF Global's meltdown in less than a week made it the biggest U.S. casualty of Europe's debt crisis, and the seventh-largest bankruptcy by assets in U.S. history. <br />MF Global files for bankruptcy protectionThe Times, citing "people briefed on the matter," said it was initially thought some $950 million was missing, but this figure dropped to less than $700 million. <br />No accusation of wrongdoing <br />The paper said that MF Global and Corzine had not been accused of doing anything wrong. Regulators are trying to establish if customer funds were misallocated. <br />MF Global's shares plunged last week as its credit ratings were cut to junk. <br />The Chapter 11 bankruptcy filing came after talks to sell a variety of assets to Interactive Brokers Group Inc broke down earlier Monday, a person familiar with the matter said. <br />Advertise | AdChoices <br /> <br />There were also signs that some of its customer accounts that are supposed to be segregated and protected from the rest of the business had suffered what regulators described as "possible deficiencies." <br />"Early this morning, MF Global informed the regulators that the transaction had not been agreed to and reported possible deficiencies in customer futures segregated accounts held at the firm," the Securities and Exchange Commission and the Commodity Futures Trading Commission said in a joint statement. <br />A bankruptcy proceeding led by the Securities Investor Protection Corporation would be the "most prudent course of action to protect customer accounts and assets," they said. <br />MF Global was not immediately available to comment on the Times' report. <br />'Grave concerns' <br />Regulators had expressed "grave concerns" about the viability of MF Global, which filed for bankruptcy only after "no viable alternative was available in the limited time leading up to the regulators' deadline," the company's chief operating officer, Bradley Abelow, said in a court filing. <br />One of the regulators that pressed MF Global, the CFTC, was unhappy with the brokerage's failure to give it the required data and records. <br />"(T)o date we don't have the information that we should have," said a source close to the CFTC. <br />In the end, regulators and markets reacted swiftly to MF Global's troubles, which may have been exacerbated by Corzine's affinity for risk-taking over the course of a career that took him to the top echelons of Wall Street and then into politics. <br />"They went for what would be a very profitable trade with European sovereign debt that obviously has blown up in their face, and brought the company down," said Dave Westhouse, vice president of Chicago retail broker PTI Securities and Futures.</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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