Is MF Global Getting a Free Pass?

Joe Nocera, New York Times
It’s sure starting to look as if Jon Corzine is going to get away with it.By now, it has been well established that Corzine’s former firm, MF Global, committed the sin of sins for a broker-dealer. In late October, during the final, desperate days before it entered bankruptcy proceedings, its executives took money from segregated customer accounts — money that belonged not to MF Global but to the farmers and commodities traders that were its clients — and used it to prop up its rapidly collapsing business.

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