While Corzine lobbied, successfully, to curb financial regulation
(NEWSER) - MF Global appears to have spent the past two years hiding its debt risk from investors by temporarily slashing debt right before issuing its quarterly reports, in a shady-but-legal process known as “window dressing,” the Wall Street Journal reports. The company insists borrowing fluctuated due to “client facilitation activities,” but one accounting professor scoffed at that. “Every quarter, for seven quarters in a row, it’s always lower,” he said. “I’m left to wonder why client needs are always reduced at the end of the quarter.” More»