A former executive at the center of the meltdown of brokerage firm MF Global appeared before Congress on Wednesday to answer questions from lawmakers. Members of the House Financial Services Committee were hoping assistant treasurer Edith O'Brien would explain the actions of the firm's CEO, ex-New Jersey Gov. Jon Corzine.
On Friday, we reported that former New Jersey Gov. Jon S. Corzine directly ordered $200 million transfered from a segregated customer account to an MF Global account in London, according to a memo from the House Committee on Financial Services.
Former New Jersey Gov. Jon S. Corzine directly ordered that $200 million from a segregated customer account be transfered to cover a $175 million overdraft in a London account. That's according to a memo (pdf) from the House Committee on Financial Services, which is scheduled to hold a hearing next week about the spectacular collapse of MF Global.