It's a strategy that's become de rigueur among troubled CEOs since the days of Enron: Chief executives claim they have no idea how their own companies work. Corzine also said that he was "stunned" when he was told "that MF Global could not account for many hundreds of millions of dollars of client money" just one day before the company filed for Chapter 11 on Oct. 31.
Corzine, a former senator and governor of New Jersey, said that he was not involved in the mechanics of the firm's trades and wasn't sure what happened. He resigned on Nov. 3.
|Huge breakthrough in blazing fast internet speeds|
|Trump rooted for the housing crash. I lost everything|
|Google's plan to kill passwords|
|Mark Zuckerberg to tear down and rebuild four houses surrounding his home|
|Donald Trump under oath: Trump University's promises crumble|