to pay defense costs for Jon Corzine and other former MF Global officers facing civil lawsuits over the broker's October collapse. http://www.reuters.com/article/2012...ters/businessNews+(News+/+US+/+Business+News)
This bankruptcy is getting worse and worse ethically. Louis Freeh is simply the lawyer of the crooks. This is not as bad as the "redemption payments" for top executives, but those who will benefit the most from this insurance are not the little guys who will have to testify one time, it will be Corzine , Abelow... I am sure they didn't have one penny invested in MF by the way. That's how you proceed nowadays. No commitment to the company, no financial responsibility, nothing... Just be at the top, "do your best" to run the company and pay yourself the most while you can...