Corzine to Face Congress Over MF Global Collapse

NEW YORK ( TheStreet) -- Former MF Global ( MFGLQ.PK) CEO Jon Corzine has been called to testify in front of the House Financial Services Committee on what went wrong at the brokerage firm which filed for bankruptcy last month.

Corzine will appear in front of the Oversight and Investigations Subcommittee on Dec.15. the subcommittee will focus on the "decisions and events leading to the collapse of MF Global, the effectiveness of regulators in overseeing MF Global's activities, and the impact MF Global's bankruptcy will have on its customers," according to a release by the committee.
Jon Corzine

The trustee in charge of liquidating MF Global said on Monday that the amount of customer money that is missing might touch $1.2 billion, double the original amount estimated.

--Written by Shanthi Bharatwaj in New York

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