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Report: Charges unlikely in MF Global scandal

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    Criticism over administration's handling

  • Duration 1:57
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It looks like there will be no charges against any of the top executives of failed Wall Street brokerage MF.

Global firm the despite the disappearance of about a billion dollars of customer money chief intelligence correspondent Catherine Herridge tells us why.

Asked why the Obama administration has so far failed to bring criminal prosecutions against several major Wall Street firms.

The White House spokesman went into campaign note.

The president believes that we need to make sure those regulators have all the tools that they need.

To do it to do the job.

Protecting consumers protecting small businesses and not -- Wall Street write their own rules.

That's not what governor Romney and the Republicans wanted him.

None -- the Justice Department nor the US attorney's office in New York City would comment on published reports that criminal charges are unlikely in the MF global scheme to.

The ten month investigation of MF global which lost nearly a billion dollars of customer investments on -- European debt.

Reportedly found no evidence of fraud.

But rather evidence of poor risk management and disorganization for -- clemens' former chief a political insider onetime democratic governor and former senator.

Jon Corzine seemed full of regret when he testified before his old colleagues in December.

Let me be clear.

I never gave any instruction to misuse customer funds I never intended anyone.

At MF global -- issues customer funds Republicans and notably fellow Democrats bush blunt criticism it.

This is a glaring.

Glaring.

Example.

Of why the American people.

-- Rapidly.

Losing faith in our ability here in Washington.

To get our hands around -- -- While there may be no criminal case MF global executives may not escape civil penalties.

On a political no one analyst told -- Corzine's fall from grace is bad for the Democratic Party given he was once seen as an insider and money -- Brett Catherine thank you the government.

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