If you want to be further outraged by the antics of former NJ governor Jon Corzine, whose leadership of brokerage MF Global essentially resulted in its collapse (and there's still a billion dollars in client funds missing!), read this NY Times feature, titled, "A Romance With Risk That Brought On a Panic." But romance is too pretty a word: "He pushed through a $6.3 billion bet on European debt — a wager big enough to wipe out the firm five times over if it went bad — despite concerns from other executives and board members. And it is now clear that he personally lobbied regulators and auditors about the strategy." more ›

Yesterday, troubled brokerage MF Global fired its 1,066 employees in the broker-dealer operations as the bankrupt firm tries to find $600 million in investor funds that have essentially disappeared. And apparently some employees found out they were canned from the media. more ›

The hits keep coming for the troubled brokerage MF Global: The FBI is joining the investigation on how an estimated $700-900 million of client money went missing. The company, which filed for bankruptcy and is being delisted by the New York Stock Exchange, is headed by former Goldman Sachs chair and former NJ Governor Jon Corzine, who had hoped to turn it into a "mini-Goldman." more ›

There are two kinds of New Yorkers: those who lock their doors, and those who do not. The Times investigates some of those brave residents with open door policies, like 63-year-old real estate firm vice president Joyce Weisshappel, who never locks her door. In fact, Weisshappel doesn't even know where her keys are. Though Weisshappel lives in a luxury apartment building with 24-hour doormen, others, like 52-year-old Brooklyn resident Sarah, don't have that kind of security. Sarah leaves her door unlocked for brief trips out — like when she walks the dog — though she locks it when she leaves for extended periods. "It's a bit of a habit and maybe a bit of a dare, as I always considered myself lucky." more ›

Guess what? With the government cracking down on the multi-million dollar bonuses given to employees of bailed out financial firms, some top executives are thinking maybe they don't want to work for the big firms. The NY Times reports on the exodus of "top talent...leaving Goldman Sachs, Morgan Stanley, Citigroup and others in rising numbers to join banks that do not face tighter regulation, including foreign banks, or start-up companies eager to build themselves into tomorrow’s financial powerhouses." They're also heading to firms that didn't take bailout money, like Credit Suisse and Deutsche Bank. One boutique firm's chief executive says, “We have the opportunity to step into the shoes of a Bear Stearns or a Lehman." Um, remember what happened to Bear and Lehman? Still, NYU Stern School of Business professor of finance Matthew Richardson says, "If the risk-taking spreads out to these smaller institutions, it is no longer a systemic threat. And innovation is spreading out too. This is a good thing.” more ›