Former MF Global CRO Stockman a 'yes man', Congress charges
Stockman hired after Roseman dismissed for raising liquidity risk concerns, a congressional committee hears
The former chief risk officer (CRO) of MF Global has denied being a 'yes man', hired to replace a predecessor who was dismissed after expressing grave reservations about the liquidity risks posed by sovereign bond repo-to-maturity (RTM) trades.
The charge was made yesterday at a meeting of the House Committee on Financial Services oversight and investigations subcommittee, which is looking into the collapse of MF Global.
Committee members questioned both Stockman and his predecessor, Michael
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