Posted on 12/08/2011 7:18:41 AM PST by SeekAndFind
Probably far more anticipated than the monetary announcements out of BOE (which just announced it is keeping rates at a record low of 0.5%, but no more QE), or even the ECB, and certainly far more than the latest and not greatest European summit which begins today, is the 9am testimony out of the House Agriculture Committee by one "Honorable" Jon S. Corzine, as well as the Q&A that will follow.
Naturally the Q&A will be the focus, but as for the prepared remarks, they have just been released and are presented below.
The choice selection:
"Obviously on the forefront of everyone’s mind – including mine – are the varying reports that customer accounts have not been reconciled. I was stunned when I was told on Sunday, October 30, 2011, that MF Global could not account for many hundreds of millions of dollars of client money. I remain deeply concerned about the impact that the unreconciled and frozen funds have had on MF Global’s customers and others. As the chief executive officer of MF Global, I ultimately had overall responsibility for the firm. I did not, however, generally involve myself in the mechanics of the clearing and settlement of trades, or in the movement of cash and collateral. Nor was I an expert on the complicated rules and regulations governing the various different operating businesses that comprised MF Global. I had little expertise or experience in those operational aspects of the business."
(Excerpt) Read more at zerohedge.com ...
That’s what happens when you change the title. =:o)
¨Ah ain´t in no ways tard....¨
I Can Haz $$$
Funds move electronically and leave a trail.
Hearing this excuse and hearing Holder begin his testimony this morning by lying his worthless @ss off, is enough to make me lose my breakfast.
Just think of going to your boss today and saying:
“I don’t know where the inventory went.”
“I don’t know where our property went. It was here yesterday.”
“I don’t what happened to the bank deposits for the last week.”
This is a former Wall St. wizard, former Senator, and former Governor of a State, and he doesn’t know the operational end of the business?
He does know how to speed at 90 mph and not wear a seat belt.
I’ll say this again: Jon Corzine is part and parcel of a Soros/Ayers/Obama Administration cabal whose goal is to execute the Cloward-Piven strategy to destroy America. Jon’s role was as one of many plunderers.
If you get the chance watch Holder and Corzine live and see how effortlessly they lie right to your face.
Criminals all.
Maybe I’m naive but shouldn’t the whereabouts of these funds be traceable with a few computer strokes?
What MamaTexan said!
I’d start with his pockets.
MF was borrowing heavily on margin. Who were their creditors? Morgan? Goldman? How hard can this really be?
LOL!
I couldn't help myself.
The older I get, the more I think violation of the public trust should be an executable offense.
After all - they're not ripping off 'someone'..... they're ripping off EVERYONE!
He and Abercrombie could be twins.
Anyone who is so stupid and irresponsible that this is the best answer they can give, is TOO stupid for a position of responsibility!
If the cops can seize a car driven by someone with illegal substance in quantities to indicate intent to sell & distribute, why can't our courts do the same with these white collar criminals. Start with Corzine and seize all his personal assets and go down the ladder until the missing sums are replaced.
Somewhere along the line it should jog someone's memory as to where the missing funds went. Then of course there's waterboarding ;-)
I know I'm oversimplifying but I believe the concept has merit.
What DID this guy do? Paint lines on the parking lot?
I presume you're speaking of Obama's tenure.
Corzine no doubt “learned” from Global Crossing business “guru” Gary Winnick on how to run a business.
Is he being tagged for Secretary of the Treasury or to replace Ben Bernanke?
Which is the prize for his testimony?
He has the proven skills to head either.
For my next trick I will make 15 trillion $ in debt disappear! tada!
RE: Is he being tagged for Secretary of the Treasury or to replace Ben Bernanke?
He WAS as Sec of Treasury( past tense ).
You will note that many treasury secretaries have the name — GOLDMAN SACHS tied to them in their careers somehow.
But Now, Corzine is a political leper as far as Dems are concerned. All he’s done the past decade is leave a trail of devastation.
I guess you should be universally known for a liar and cheat to even be considered for positions of trust and responsibility in DC
Congress: "Then let me axe you one more time."
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