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.
|Fake news, real violence: 'Pizzagate' and the consequences of an Internet echo chamber|
|Expedia IT guy made $300,000 by hacking own execs|
|Amazon Go is grocery store with no checkout line|
|Facebook and other tech giants are setting up a database for terrorist content|
|Trump wants to unshackle Main Street banks|