Sometimes all it take to blow up a company is a boss with an enormous ego who refuses to listen to anything other than his own insulated mind.
This is largely what caused the meltdown of MF Global, a $40 billion commodities trading and investment firm run into the ground by Jon Corzine, the former Goldman Sachs chairman, Democractic U.S. Senator and New Jersey governor, according to a report released by Republican members of the House financial services committee.
Of course, there’s no law against having a ridiculously sized ego, and the report stops short of assigning any sort of criminal liability.
Click here to read my column in the Sunday Wall Street Journal. And click here to download the full report from the commitee.
