A failure to supervise

Charles Gasparino:
Corzine’s ‘clueless’ confession
When Corzine told Congress that he had no idea what happened to over a billion dollars of customer funds, he appeared to be admitting that he and the firm failed to properly supervise and protect those customer funds.  From my own experience, keeping track of customer funds is one of the top priorities of any back office operation.  It comes way ahead of trading in the firm account.

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