Corzine Defends Actions Before Congress

Friday, December 09, 2011

Jon Corzine, former CEO of MF Global, testifies before the House Agriculture Committee about the company's bankruptcy of MF Global on Capitol Hill in Washington on December 8, 2011. Jon Corzine, former CEO of MF Global, testifies on Capitol Hill. (Saul Loeb/AFP/Getty Images)

Jon Corzine, the former head of investment firm MF Global, told lawmakers he did not intend to break any rules and that he has no idea where $1.2 billion in missing money is during testimony before Congress on Thursday. The New Jersey Democrat became the first former U.S. Senator to be subpoenaed by Congress in more than a century. During his testimony, Corzine repeatedly apologized to investors and customers, saying he never ordered any movement of money out of clients' accounts.

Louise Story, Wall Street and finance reporter for The New York Times, discusses Corzine's testimony. Ryan Davies, and alternative investment adviser who did business with MF Global, thinks Corzine is telling the truth, but that MF Global took too big a risk.


Ryan Davies

Comments [1]


Why no mention of political contributions made to President Obama or how a former Democrat US Senator and Governor's deep connections with the Democratic Party may have helped him with the regulators?
The Occupy movement doesn't seem to very interested in these questions either for some reason.

Dec. 09 2011 10:22 AM

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