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

>To contact the writer of this article, click here: Shanthi Bharatwaj.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

More from Stocks

How Small-Cap Stocks Can Protect Your Portfolio From a Trade War

How Small-Cap Stocks Can Protect Your Portfolio From a Trade War

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In

Why Millennials Are Ditching Stocks for ETFs

Why Millennials Are Ditching Stocks for ETFs

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says