Freeh is overseeing the wind-down of MF Global Holdings, which means he is trying to recover money for creditors.

WSJ: MF Global's trustee sues former CEO Corzine

The defenders of the Volcker rule point out that trading in foreign sovereign bonds played a central role in bringing down MF Global Holdings Ltd.

WSJ: EU Plans Complaint on 'Volcker Rule'

The Democrat, who lost his re-election bid last fall to Republican Chris Christie, just got a new gig as chief executive of MF Global Holdings Ltd.

FORBES: Corzine's Back On The Street