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MF Global Suit Still Leaves Gaping Investor Protection Hole

MF Global trustee Louis Freeh is suing John Corzine and other officers of the now-bankrupt company. What’s missing from this picture? A concerted effort to protect investors from future MF Globals, Peregrines and Madoffs. While customers of the company may get their money back, where are the new safeguards? Somebody wasn’t supervising Corzine, his traders and customer money. That much is clear. Where was the Commodity Futures Trading Commission and National Futures Association, the two main regulators? Why aren’t these groups facing tough Congressional investigations? If Corzine is responsible for the alleged malfeasance of MF Global, does the Department of Justice consider the former senator, New Jersey governor and Goldman Sachs chief too big to jail? Who’s looking out for the little guy?
More in Forbes here.

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