On Monday, the Bermuda-based clearing company MF Global (nyse: MF - news - people ) sank 55% in trading on no news.
"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.
Gold fell earlier in the week, but DeFalco and some other market watchers said that may have been related more to the problems regarding customer funds at now-bankrupt firm MF Global than to the near-term desirability of gold.
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There was a report -- on another subject -- about MF Global not facing any criminal charges.
New York Stock Exchange composite trading, though they still remain below their pre-MF Global collapse level.
Unless you protect investors from the ravages of rapacious scoundrels who can tap into customer accounts at will, MF Global and Peregrine-like scams will continue unabated and investors will stay away from the business in droves.
The trustee in the MF Global case filed a 174-page report outlining his investigation into the failure of MF Global.
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.
Freeh is overseeing the wind-down of MF Global Holdings, which means he is trying to recover money for creditors.
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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There is now speculation as to whether a post Dodd-Frank regulatory environment will include significantly greater purview over the practices of smaller firms, with closer attention to their leverage ratios (31-1 at MF Global) and more aggressive disclosure standards.
FORBES: A Dubious Dodd-Frank Milestone: MF Global Takes Us Right Back Where We Started
The data was supportive for gold, says Tom Pawlicki, precious-metals analyst with MF Global.
FORBES: MF Global's Pawlicki: Gold Upticks After U.S. Non-Farm Payrolls
Neugebauer, are set to release the results of its year-long investigation into MF Global, which filed for bankruptcy on Halloween 2011, on Thursday.
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As reported by The Wall Street Journal in November, he didn't rely heavily on the risk-management department at MF Global, reporting only to the company's board of directors.
WSJ: Corzine Rebuffed Internal Warnings on Risks at MF Global
In addition, MF Global has no exposure to subprime mortgage-backed securities that have been the root cause of the current market environment.
Not so long ago it was rebound-optimist Jon Corzine of MF Global publicly taking the hit that many others were privately taking too.
"Mr. Corzine was recruited to revitalize a troubled company, and during his entire tenure as CEO he worked tirelessly with the board, firm management and world-class consultants to improve MF Global's operations and performance, " Goldberg said.
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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"There is a real crisis of confidence, " John Guy, a London-based luxury goods analyst at brokerage MF Global Securities, said.
Dooley (45) was a commodities trader for MF Global in February 2008 when he placed a wrong-way trade on wheat.
FORBES: MF Global's Trader That Will Go To Prison - Brent Dooley
Wednesday is the one-year anniversary of the collapse of MF Global, and several months after MF Global blew up, Peregrine Financial Group went bankrupt after its founder admitted to stealing customer funds.
FORBES: Industry Working To Increase Customer Protection; More Can Be Done - FIA Panel
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.
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.
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.
Unlike the opaque Lehman, MF Global fully disclosed the trades and their accounting treatment including the off-balance sheet effect.
FORBES: Uncontrolled Risk Taking, Not Bad Accounting, Did MF Global In
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.
Jim Comiskey, senior market strategist with MF Global, and Bhar both pointed out that gold held around its 200-day moving average on the sell-off last month, encouraging longer-term bulls.
FORBES: Softer Dollar, 'Trend Reassertion,' Asian Demand Send Gold Higher
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
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