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.
|Oil prices drop below $70 after OPEC meeting|
|Shoppers say 'no' to Black Thursday|
|OPEC: No cut in oil production and prices keep falling|
|European Parliament votes for Google breakup|
|Supersonic jet promises N.Y. To L.A. in 2.5 hours|