Corzine Resigns From MF Global As Feds Investigate Firm's Practices07:57


The week started with the eighth largest bankruptcy in U.S. history, when MF Global went under. And Friday the other book-end-- Jon Corzine, former Democratic Senator and New Jersey Governor, will no longer be chairman and CEO.

In a statement he said that resigning would be "best for the firm." He will not have any severance pay either. The New York Times reports he's also believed to have hired a leading white-collar criminal defense lawyer, as U.S. regulators are investigating why around $633 million in customer money went missing.


  • Ben Protess, reporter for the New York Times

This segment aired on November 4, 2011.

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