Posted on 12/08/2011 7:05:09 PM PST by Texas Fossil
As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon Corzine testified Thursday about the “last chaotic days” of MF Global, the trading firm that declared bankruptcy under his watch.
Corzine said he was “stunned” to learn that the firm could not locate hundreds of millions of dollars in client money in the days before the firm’s collapse, and said he had no idea where the money had gone.
(Excerpt) Read more at latimesblogs.latimes.com ...
This is one 1-percenter who needs jail time.
How on earth did this guy get the job? My cat knows more about futures trading than Corzine (and than me, for that matter).
Jon should look in his pockets for the missing money.
I was absolutely ‘stunned’ when I saw the sign placed in front of Corzine at the hearing today. It read “The Honorable Jon G. Corzine”. You can see it in the photo with the article. Really??????
Why isn’t he being perp walked?
...in other unrelated news the obama regime has reached their goal of one billion dollars in campaign funds.
Oh you know a good portion of these scandals have resulted in coffers being filled.
Wasn’t he hired ti provide OVERSIGHT!!!!
Stuned? Beeber?
I can picture the conversation like this:
“Hey boss, where’s that few hundred million dollars- I thought it was in my wallet- did you have it last?”
Corzine: “Gosh no, I thought you had it~! Boy are our faces red”
Because it involved hedging and speculating in farm commodity prices which is a topic that the AG committee may have purview over.
Somebody oughta check “Bammy’s campaign warchest....
He signed the Sarbanes–Oxley document putting himself on the line for the accuracy of his company’s accounting. The accounting was fraudulent. He either goes to jail or we no longer are a nation of laws.
My son remarked yesterday that the reason Corzine was able to take over MF Global, a company that traces its roots to a sugar trading business started by James Mann in England in 1783, and loot it to death in less than two years was precisely because he knew he could do so and get away with it completely.
I hate to break this to everybody, but Corzine, the connected former senator and governor, the big-time Democrat donor, will not be held responsible for anything, ever. Unless the feds can pin something - anything - on some nondescript underling, nobody will be held responsible. That money is in the wind and everybody knows Corzine stole it.
(shrug) Oh well.
I wonder how long before his children commit suicide because they are Corzines and his wife knows the social POS they have become. People are hurting in America and the Corzine clan thinks it’s real funny.
No Trace of 1200 million MILLION dollars..(1.2 billion) !!!
Anyone that believes that theres no receipts in some form are crazy...
Someone on NRO pointed out that “I have no idea where the money is” is a felony under Sarbanes-Oxley. He should have been frogmarched right out of the Capitol.
In the U.S. what MF Global did was illegal. In the UK probably not. Were the investors aware of the risks? I seriously doubt it.
Many of those who are on the hook are farm commodities producers who hedged their livestock/crops.
Corzine should be in prison until he remembers where the money went. Maybe he could share a cell with Holder who should stay until all the guns are recovered.
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