Forum Post: Senate Looked into MF Global Bankruptcy on Tuesday /// Executive Chairman of CME Group says he was told that Corzine was aware of the loans being made from segregated accounts!
Posted 10 years ago on Dec. 13, 2011, 12:42 p.m. EST by MonetizingDiscontent
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Senate Looked into MF Global Bankruptcy on Tuesday -12/13/2011-
Executive Chairman of CME Group says he was told that Corzine was aware of the loans being made from segregated accounts!
(It was streamed live /// Dec. 13, 2011) http://www.c-span.org/Events/Senate-Looks-into-MF-Global-Bankruptcy/10737426222/
Mr. Terrence Duffy:
Chicago , IL
Mr. James W. Giddens
Securities Investment Protection Act liquidation of MF Global, Inc.
New York , NY
Hon. Jill Sommrs
Commodity Futures Trading Commission
Washington , DC
Watch Jon Corzine's Follow Up Testimony On The MF Global Bankruptcy, Accompanied By MF's CFO And COO
Update: the three MF Global stoog... pardon, former executives, are now testifying
Even though he has had several days in which to "review his notes", the follow up testimony by former MF Global CEO Jon Corzine to the Senate Agriculture Committee starting momentarily will be replete with "I don't recalls" and "to the best of my knowledge" and will be largely devoid of all content, suffice to say it was not his intention to break the main law of broker dealers- no commingling. It will be even worse because today he will be joined by MF global's CFO and COO as well, all of whom will be completely clueless once again, and needless to say, shocked, SHOCKED, that they stole billions from their clients.
From the Senate Agri Committee:
On October 31, 2011, MF Global Holdings Ltd. declared bankruptcy – the eighth largest bankruptcy in U.S. history. Since then, federal officials have been unable to find a significant amount of the firm’s customer’s money. It is currently estimated that up to $1.2 billion in customer funds is missing. The Senate Committee on Agriculture, Nutrition and Forestry has jurisdiction over the sort of commodity trading that MF Global was engaged in, and the hearing on December 13 will be a continuation of the Committee’s investigation into the firm’s bankruptcy.