A congressional panel has voted to subpoena former Sen. Jon Corzine to compel him to testify at a hearing next week about his role leading the investment firm MF Global, which collapsed after a disastrous bet on European debt.
The president and chief operating officer of failed broker MF Global Holdings Inc. has agreed to have his annual base salary of $1.5 million slashed 96 percent as he stays on to work on the company's Chapter 11 restructuring.
He set out to create a mini-Goldman Sachs. In the end, he built a mini-Lehman Brothers. Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure.
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