1. Finance

    Corzine Ignored Warnings

    NEW YORK, NY - DECEMBER 09:  Former New Jersey Governor Jon Corzine attends the Child Mind Institute Inaugural Benefit at Cipriani 42nd Street on December 9, 2010 in New York City.  (Photo by Slaven Vlasic/Getty Images) *** Local Caption *** Jon Corzine

    Slaven Vlasic / Getty Images

    Former MF Global CEO Jon Corzine ignored repeated warnings about the company’s exposure, according to The Wall Street Journal. Last year, the company’s chief risk officer, Michael Roseman, repeatedly expressed his concerns about Corzine’s investment in European bonds to the board of the directors; the board, however, continued to OK Corzine’s trades, with the company’s exposure to European debt swelling from $1.5 billion in late 2010 to $6.3 billion just before the company’s October 31 bankruptcy. Roseman also apparently warned Corzine directly in several meetings, both one-on-one and in front of other people. He resigned from the company in March.

    Read it at The Wall Street Journal