That left the government to choose between liquidating the company, or injecting more taxpayers' money to keep it flying.

The next owner could preserve Dallas-based Blockbuster as an ongoing business but would also have the option of liquidating the company or closing it down.

Ultimately a meeting was called to consider the question of liquidating the company, and at this meeting, after three sleepless nights, I occupied the chair.

Corzine and other former MF Global executives last year reached a $132 million settlement with a trustee liquidating the company on behalf of creditors.