Rating firms' MF Global role to be explored

US lawmakers want to explore whether or not the star power of Jon Corzine may have clouded the judgement of ratings agencies

US lawmakers plan to scrutinise the relationship between former MF Global chief executive Jon Corzine and the credit-rating firms that downgraded the brokerage as it hurtled toward bankruptcy, according to a person familiar with the matter.

The House Financial Services Committee announced this week that it had asked Corzine and regulators to attend a December 15 hearing to "focus on decisions and events leading to the collapse of MF Global" and "the effectiveness of regulators in overseeing MF Global's activities."

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