not too big to fail

Jon Corzine Called to Explain MF Global’s Failure to Congress

NEW YORK, NY - SEPTEMBER 21: Former New Jersey Governor Jon Corzine (L) and wife Sharon Elghanayan attend the Opening Night Gala of New York Philharmonic sponsored by Breguet at Avery Fisher Hall at Lincoln Center for the Performing Arts on September 21, 2011 in New York City. (Photo by Neilson Barnard/Getty Images for The Swatch Group)
Photo: Neilson Barnard/2011 Getty Images

The House Agriculture Committee voted unanimously today to subpoena Jon Corzine, the former New Jersey governor, Goldman Sachs CEO, and “mini-Goldman” creator, about the bankruptcy of brokerage firm MF Global. The hearing isn’t until Thursday, so maybe by then he’ll have tracked down that missing $1.2 billion in customer funds.

Corzine to Explain MF Global Failure to Congress