IN JON CORZINE FIRM’S BANKRUPTCY, regulators look for the missing client money: “The revelation of the missing money scuttled an 11th hour deal for MF Global to sell a major part of itself to a rival brokerage firm. MF Global, the powerhouse commodities brokerage run by Jon S. Corzine, had staked its survival on completing the deal. Now, the investigation threatens to tarnish the reputation of Jon S. Corzine, the former New Jersey Governor and Goldman Sachs chief who oversaw MF Global’s demise, making it the first American victim of Europe’s debt crisis. . . . But regulators are examining whether MF Global diverted some customer funds to support its own trades as the firm teetered on the brink of collapse. If that was the case, it could violate a fundamental tenet of Wall Street regulation: Customers’ funds must be kept separate from company money.”
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