The Hagstrom Report

Agriculture News As It Happens


Senate Ag members urge no bonuses for MF Global execs

All members of the Senate Agriculture Committee including Senate Minority Leader Mitch McConnell, R-Ky., sent MF Global trustee Louis Freeh a letter today urging him not to award bonuses to top executives of the bankrupty firm.

“It is difficult to understand why you would even consider paying anyone a bonus while nearly $1.6 billion in customer money is still missing,” the Senators wrote in a letter to Freeh.

“And it is absolutely outrageous to propose paying bonuses to the very people who were responsible for the firm’s operational, legal, and financial management at the time customer money disappeared … the failure of leadership in this case is truly unprecedented.”