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The perils of youth

The firms that have failed recently have a common factor: The CFOs are young.
The perils of youth

In March Henri Steenkamp, CFO of collapsed brokerage firm MF Global, admitted to a US Senate panel his ignorance to the whereabouts of $1.6 billion of customers’ money. “I was taken up with other serious matters,” he said. What could be more important than knowing  where the money is? (Desperately finding ways to fund the $6.3 billion unhedged bet on European sovereign debt, perhaps?)

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