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Technical pieces and what you get down to is a debate whether or not you can regulate arrogance and greed in human nature. you seep this with jamie dimon who said just a little while before this $2 billion meltdown that there was no problem with this particular trade. you saw it earlier with mf global and jon corzine. these titans of finance who have terrific reputations as smart, intelligent capable people continue to fall victim to their own hubris of thinking if i'm doing it, it can't be a wrong. and doubling down in the case of corzine on a very, very risky trade. some of these guys have a...

Republicans and democrats as someone that has access all the way at the highest levels to the president. this past cycle from the beginning of january 2012 he is listed as one of the largest bunglers of the obama administration. i think it jeopardizes the way people feel in america with the confidence in our system as well as the integrity of our markets. that is the reason i'm calling for an independent counsel. if you look at the history, a lot of people feel he has been given special treatment since he started about mf global. >> i should note that jon corzine has raised $500,000 for the ob...

Said mf global should not have been where it is and everyone knows that is why corzine was brought in. >>neil: a primary deal, less than two doze who are the chief distributors of government. >>guest: they can go dot -- go to the fed auction. >>neil: small are players. >>guest: much smaller. and you look at, even, things that happened and there has been a bond offering during the summer where they offered and it says in the bond oring they would give up 1 percent increase if corzine left the firm, because at time the speculation was he would be the next secretary of the treasury. and that lens...

The reelection for the president, and there is a question about what's happening. where is the accountability? fox business network charlie gasparino wrote a column asking if the investigation is slow because of the political ties. why do you say it's slow. six months having worked in law. why do you think this is slow? >> reporter: mf global was not a hedge fund it was run like a hedge fund. it was a brokerage firm. jon corzine former governor, rams up the risk the place implodes and $1.6 billion in customer money disappears. that's not supposed to happen at a brokerage firm. terry duffy, the...

Conclusions yet. witnesses agreed there need to be tough new rules to protect customer money and promise they are coming. one trustee in this case is very high profile. former fbi director louie free came under fire for a report saying he was paid bonuses to help investigate the firm's failure. >> it was never my intention to pay any bonuses to senior executives. i read the story with a lot of surprise. there have been no discussions between myself and my staff. and bonuses are not part of my consideration now and they have not been in the past. >> reporter: a group of angry mf global customer...