of m.f. global now as soon as corazon arrived he began a radically revamping the company into a full service service brokerage firm one that would buy and sell stocks and bonds for clients as well as use its own money to help clients trade and to place its own bets however corps runs ambitious plans all came crashing down in october twenty seventh when moody's downgraded m.f. global to jump status this after a six point three billion dollar bet on the bonds of some of europe's most indebted nations but the forty billion dollar company bankrupt bankrupt now of course on try to sell off what was left of the firm but all that ended with all that all of that ended when accounts discovered that around six hundred million dollars worth of client money simply went missing missing lost now fast forward to the present and a federal judge this week said that he will allow a lawsuit seeking to hold course on and other m.f. global executives responsible for the brokerages collapse now clients claim that more th

of m.f. global now as soon as corazon arrived he began to radically revamping the company into a full service service brokerage firm one that would buy and sell stocks and bonds for clients as well as use its own money to help clients trade and to place its own bets however corps lines ambitious plans all came crashing down in october twenty seventh. when moody's downgraded m.f. global to jump status this after a six point three billion dollar bet on the bonds of some of europe's most indebted nations left the forty billion dollar company bankrupt bankrupt and of course on trying to sell off what was left of the firm but all that ended what with all that all of that and.

now what about m.f. global that was the company led by former senator and governor john corazon governor of new jersey former governor he was once the c.e.o. of goldman sachs as well now it collapsed in a heap in two thousand and twelve or was anyone charged with fraud they're going to you should mention that that's a chicago firm that rose from the ashes of rocco another bankruptcy that was money or didn't tried and no one is really been prosecuted for that either although there have been some charges laid by the c.f. to see the consumer financial protector the commodities. regulator and there are also have been several lawsuits although not one of them yet naming the the auditor peter b. c. at least not any major ones now do you think the accounting industry was complicit in the failures that created the financial crisis which obviously began in two thousand and seven. certainly that's sort of the premise of a lot of what i talk about or that on my blog in other publications an out when i speak out of balance

a federal judge this week said that he will allow a lawsuit seeking to hold chords on and other m.f. global executives responsible for the brokerages collapse now clients claim that more than one point six billion dollars worth of their funds which should have been segregated went missing transferred to another part of the company during this whole liquidity liquidity crisis now customers are accusing m.f. executives of failing in their oversight and the due sherry duties this suit is one of several involving the collapse of m.f. global pending before u.s. district judge victor. the judge has also denied bids by correspond to dismiss those cases as well morris says it's reasonable to quote infer someone did something wrong yes moreau someone did do something wrong. now recent events have made it clear how destructive a banking crisis can be on a society it is seven years and that's it's been seven years rather this month this very month since h.s.b.c. recognized that previously unknown subprime bad debt launched us into a crisis and we're still dealing with those consequences our next guest

of m.f. global now as soon as corazon arrived he began a radically revamping the company into a full service service brokerage firm one that would buy and sell stocks and bonds for clients as well as use its own money to help clients trade and to place its own bets however corps.

the new jersey star ledger saying a federal judge ok'ed the fast action lawsuit against m.f. global. former new jersey governor will be included. >> the detroit news reports that ford's new aluminum f150 truck is creating a high demand for the metal. >> what ever happened to the days when trucks were men's truck, now they have cup holders, plush leather seats and they're talking about gas mileage. >> aluminum vehicles weigh less so you get better mileage. this is creating a real buzz, aluminum the second most frequently used material. >> i borrowed a friend's truck and said i want to move a sofa. he said just don't scratch the bed. what do you have a bed for if you can't scratch snit. >> energy drinks are under fire, high caffeine, high sugar. the washington post say state lawmakers want to ban sales to minors, seeing real concerns about the health of children. >> a 14-year-old died consuming too much of the drinks. they're follow older peers, seeing them drink the drinks and want to do the same. >> marketed to kids. >> the largest lobby in washington, d.c. in damage mode. >> the po