HUH?
The idiot who wrote the article would have you believe that Corzine was somehow “enthralled” that some penny-ante guy hired to trade firm capital, a “prop trader” was actually trading for the firm and that this was somehow in any way unusual.
Pure idiocy. Of course proprietary traders trade firm capital.
MF Global, formerly Man Financial, had lots of prop traders, with varying limits on leverage and positions. Man also had lots of experience with bankruptcy via Refco/Lind-Waldock, whom Man acquired about 6 years ago out of bankruptcy when Refco blew up for the same reasons MF blew up.
None of their prop traders had anything to do with the bankruptcy, Corzine had everything to do with it, he was the ultimate proprietary trader.
He’s the idiot who made the 6 billion dollar proprietary capital bet on Euro-debt. Nobody else. Just him.