Corzine's testimony is 'height of disbelief,' says Congressman

Legal News Line ^ | 12-9-11 | MIchael P. Tremoglie

[Miami Vice]

Jon Corzine, the former CEO of the bankrupt brokerage firm MF Global, has testified before Congress about his role in the company losing nearly a billion dollars.

His responses were tentative, claiming ignorance of events. This prompted committee member, Rep. David Scott, D-Ga., to remark that it was the "height of disbelief" for Corzine ....

[raisincane]

Whoo! Where did this Dem from Georgia pick up some sense?

[Red Badger]

Dems always get it near election time..............then promptly leave it in the dirt....................

[safetysign]

Corzine needs to be grabbing his ankles in the graybar hotel ASAP.

[blackdog]

Translation = Corzine lost much of the congressman's relatives money.

If nothing else, politics in America is strung with a single thread.

[Oatka]

This prompted committee member, Rep. David Scott, D-Ga., to remark that it was the "height of disbelief" for Corzine ....

Too bad he didn't use Hillary's "Willing suspension of belief" slur to Gen Petraeus.

[PA-RIVER]

I do wonder if Corzine ran it into the ditch to bail out a friend who was holding too much Euro debt. If someone needed to unload or needed the price bumped up, I wouldn't put it past Corzine to buy the crap (with other peoples money) for a return favor.

[Graewoulf]

When Democrat Corzine assigned un-wanted debt to MF Global clients by investing their money, it was a violation of Federal rules. Corzine may go to jail.

When Democrat Obama assigned un-wanted Debt to US taxpayers by “investing” their money, it was NOT a violation of Federal rules. Obama may be re-elected.

BTW, everybody really should do “their fair share.”

[tioga]

Pompous pecksniffian punk.......like all dems, he believes he is above all of us. I recall hearing about him flying down the interstates of NJ with total disregard to others’ safety while he was governor. Just as he did with their money.

[tioga]

Kudos to the dem Rep anyway. I am betting his constituents have been flooding his office with calls about missing money.

[Political Junkie Too]

Corzine's only defense at this point is that he voted YEA on the Sarbanes-Oxley Act (H.R. 3763).

That means that he didn't read the bill and had to pass it to find out what was in it.

Now he's going to find out.

-PJ

[Iron Munro]

This is just another political three ring circus for congress critters to get their faces on TV.

Did they actually expect Corzine to come in and say he authorized the illegal use of investors funds?

Heck no!

If they had really wanted to find out what Corzine did and what happened to the $1.2 billion they would have subpoenaed the people who reported to Corzine, the people who took his orders, the people who might be facing prison if the truth about Corzine doesn't come out.

[Donnafrflorida]

Nobody has brought this up. Sarbanes..OXLEY . states that employees will be held accountable in cases like these. Jail time, fines etc al. Does he think he is exempt?

[miss marmelstein]

Re: The car accident. Corzine, as Governor, thought it was important to go to the meeting of Don Imus and the Rutgers basketball team. He was late and ordered his driver to speed on the Garden State Parkway. He was not wearing a seat belt. The car may have gone over 100 mph. The driver hit another car and they went into a ditch (or something). Corzine broke his...ahem...pelvis.

The worst thing? He tried to blame the poor driver of the other car. That sums up everything you need to know about this lying putz.

[tioga]

Isn’t it just priceless that he voted on a law that now has the potential to put his butt in jail? LOVE IT

[tioga]

I forgot the DEATS....you are right. What a pecksniffian putz he is.

[FES0844]

Investors should occupy Corzine’s house just like they did Madoff’s.

[MarkL]

When Corzine was in the senate, did he vote for Sarbanes/Oxley? I don't know if he was in the senate at that time. But I do know that according to the laws, "I don't know what happened" isn't a valid response to an inquiry, and some pretty harsh prison time can be handed down over this sort of thing... They have to "sign off" on compliance documents, and they're criminally responsible.

The only reason I know this is that since SOX was implemented where I work, things that used to take 5 minutes to do still take 5 minutes, but I also have to fill out paperwork for 10 - 15 minutes, and chase down the people who have to sign off on it.

An entire industry has sprung up around SOX compliance.

Mark