The trustee in the MF Global case filed a 174-page report outlining his investigation into the failure of MF Global.
Dooley (45) was a commodities trader for MF Global in February 2008 when he placed a wrong-way trade on wheat.
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Mike Fitzpatrick, vice president of energy at MF Global, attributed the sell-off to a series of rumors, including the liquidation by a large bank, a cap on commodities, and Iran making a nuclear deal.
As a broker-dealer, MF Global also added liquidity to the system, adding another layer of systemic risk: on Monday, MF Global traders were barred from the CME Trading floor, substantially limiting liquidity in futures markets.
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Late last week Corzine resigned from his post at MF Global following a week long marathon of bankruptcy-related problems.
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On the Friday after MF Global filed for bankruptcy and after a week-long hammering of its stock Jefferies published details about the debt it holds in the troubled Eurozone nations as well as its hedged positions.
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It was this sort of collateral spiral that felled MF Global, a bust American broker, in its ill-fated bet on euro-area government bonds.
"There is a real crisis of confidence, " John Guy, a London-based luxury goods analyst at brokerage MF Global Securities, said.
No one has appointed an Anton Valukas-style bankruptcy examiner or a Michael Missal to give MF Global the Lehman or the New Century treatment.
There was a report -- on another subject -- about MF Global not facing any criminal charges.
This past week we found out that 100, 000 commodities traders did not know what had become of their hard-earned money left in segregated customers accounts at MF Global, a commodities dealing house now bankrupt.
The economy is improving, but Jessica Hoversen, a foreign exchange and fixed-income futures analyst at MF Global, warns that the currency market may have already overextended itself in the short term, while long-term trends endanger the U.S. dollar.
"I thought the firm had a very good shot under Corzine, but clearly he went overboard, " said Mike Fitzpatrick, a 59-year-old former crude-oil trader at MF Global who left shortly after Mr. Corzine's arrival because he didn't want to take more risks.
The first serious cracks emerged in September when America's Financial Industry Regulatory Authority, a now-autonomous agency once tied to the major exchanges, told MF to put up more capital.
ECONOMIST: An old hand on Wall Street is crushed by a bet on Europe
Corzine, who stepped down as MF Global CEO soon after the collapse, is the former co-chairman of Goldman Sachs, a former Democratic U.S. senator and the former governor of New Jersey.
The Democrat, who lost his re-election bid last fall to Republican Chris Christie, just got a new gig as chief executive of MF Global Holdings Ltd.
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