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News Summary: Raters, regulators cited in failure

By The Associated Press
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BLAME GAME: A House panel says credit rating agencies and federal regulators contributed to MF Global’s collapse last year But pinned most of the blame on ex-CEO Jon Corzine.

RISKY BUSINESS: The report issued by Republicans found Corzine’s risky strategies caused MF Global’s bankruptcy. iT also says rating agencies Moody’s and Standard & Poor’s failed to identify the biggest risk to MF Global: its $6.3 billion bet on European countries’ debt.

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