The fiasco, proponents of an overhaul say, highlighted gaping holes in the regulatory system that allowed MF Global to mingle customer money with firm funds.
After days of intensifying regulatory scrutiny into missing client money at MF Global, firm funds have been found at JPMorgan Chase, according to several people briefed on the matter.
Regulators are focusing on transactions in the firm's last days to determine when MF Global violated a strict rule that prohibits the mingling of customer money and firm funds.
Mr. Corzine told a House panel that he had received assurances, "both orally and in writing," that the firm followed federal laws about keeping customer money separate from firm funds.
It would be simplistic, of course, to link this surprisingly emollient approach to the paper's sponsorship of the just-begun Hay festival, where Schmidt was the star speaker on Saturday and his firm funds the Google Big Tent.
"Investment firm funds paid for all aspects of his lavish lifestyle from the purchases of his high-end homes to the mattress and box spring he slept on, the television he watched in his home gym, and the outdoor shower in his home," the lawsuit said.
