This page has been archived and commenting is disabled.

"The Honorable" Jon Corzine To Tesify On Thursday Over MF Global Collapse

Tyler Durden's picture




 

It's official - the man who has been more invisible in the past month than Slimer the friendly ghost, aka former Goldman and MF Global (and let's not forget New Jersey) CEO "The Honorable" Jon Corzine, is now officially on the Thursday, December 8 docket, of witnesses to tesitfy at the House Agirculture Committee hearing examining the MF Global bankruptcy. In what could be the most popular televized hearing out of Congress since Carl "Shitty Deal" Levin went to town on Lloyd and Vini, the entire world will be watching with baited breath first whether Corzine will even appear, at which point things get tricky of the Obama administration, best known recently for using Corzine as a distinguished financial advisor, and secondly, his explanation of just how it is that buying Italian bonds in zany off-balance sheet schemes while commingling billions of client funds to mask capital deficiency is legal.


Full Committee

Examination of MF Global bankruptcy

Date and Time

 

December 8, 2011 |
09:30 AM

Location

1300 Longworth House Office Building, Washington, D.C.

Description

Thursday, December 8, 2011 – 9:30 a.m.
1300 Longworth House Office Building
Washington, D.C.
Full Committee on Agriculture -- Public Hearing
RE: Examination of MF Global bankruptcy.

Witness Testimonies

    Panel 1

  • The Honorable Jill Sommers,
    Commissioner, Commodity Futures Trading Commission, Washington, D.C.
  • Mr. James Kobak,
    Lead Counsel for the Trustee for the Liquidation of MF Global Inc., New York, New York


  • Panel 2

  • The Honorable Jon Corzine,
    Former CEO, MF Global Inc., New York, New York


  • Panel 3

  • Mr. John Fletcher,
    General Manager, Central Missouri AGRIService LLC, on behalf of the National Grain and Feed Association, Marshall, Missouri
  • Mr. Terrence Duffy,
    Executive Chairman, CME Group, Inc., Chicago, Illinois
  • Mr. William J. Brodsky,
    Chairman and CEO, Chicago Board Options Exchange, Chicago, Illinois
  • Mr. Dan Roth,
    President and CEO, National Futures Association, Chicago, Illinois
  • Mr. Stephen Luparello,
    Vice Chairman, Financial Industry Regulatory Authority, Washington, D.C.
  • Mr. Gerry Corcoran,
    Chairman and CEO, R.J. O’Brien & Associates, on behalf of the Commodity Markets Council, Chicago, Illinois

 

Those wondering what the hearing will almost certainly sound like, here is a preview:


 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 12/06/2011 - 14:59 | 1951864 GeneMarchbanks
GeneMarchbanks's picture

Go ahead ask me a question?

Fif!

Tue, 12/06/2011 - 15:01 | 1951880 redpill
redpill's picture

Betcha he calls in sick.

Tue, 12/06/2011 - 15:05 | 1951907 Careless Whisper
Careless Whisper's picture

The over/under on how many times Corzine Pleads The Fifth: 0

He may listen to his $900 per hour lawyers OR his ego may get the better of him.

 

Tue, 12/06/2011 - 15:07 | 1951921 redpill
redpill's picture

Remember he's a former politician.  He doesn't need to take the fifth, he'll just sit there and lie.

 

Tue, 12/06/2011 - 15:16 | 1951971 flacon
Tue, 12/06/2011 - 15:40 | 1952096 CClarity
CClarity's picture

Just gotta say that Blankfein has been out of the public eye even longer.  I don't think there has been a sighting since mid summer.  Anyone see him since?

Tue, 12/06/2011 - 16:06 | 1952109 TruthInSunshine
TruthInSunshine's picture

Retracted - Zero Hedge read my mind in advance - again.

Tue, 12/06/2011 - 16:17 | 1952308 Chupacabra-322
Chupacabra-322's picture

You can "Bank" that you'll here this quote consistanly.  "I don't recall" 

Tue, 12/06/2011 - 16:18 | 1952317 Chupacabra-322
Chupacabra-322's picture

You can "Bank" that you'll here this quote consistanly.  "I don't recall" 

Tue, 12/06/2011 - 19:00 | 1952951 In Fed We Trust
In Fed We Trust's picture

Or maybe he pulls a Kenneth Lay

"i dont seem to recall" was hus answer to every question.

Or maybe he pulls a DICK Cheney

"it isnt an accounting issue but an issue of the complexity of the system why we are unable to locate 2.3trillion dollars as announced the day after 911.

God damn mother fuckers.

Maybe the super dufice committee should locate
That 2.3 trillion instead of balancing the budget.

Tue, 12/06/2011 - 19:05 | 1952966 In Fed We Trust
In Fed We Trust's picture

Between the theft of 2.3 trillion by Dick face Cheney and the soon after bailouts by Bush brings the tab to 5 trillion in a matter of a couple of years whick pushed that national debt to 15 trillion.

Its as if they arr purposely trying to bankrupt us!

I think we all know where that 2.3 trillion dollars went.

To finance a fairytale about terrorists and pay non jews to keep their mouths shut.

Tue, 12/06/2011 - 19:12 | 1952982 In Fed We Trust
In Fed We Trust's picture

http://m.youtube.com/index?desktop_uri=%2F&gl=US#/watch?v=_rRqeJcuK-A

Dick face Cheney explains how they stole the loot.

Tue, 12/06/2011 - 19:16 | 1952988 In Fed We Trust
In Fed We Trust's picture

Dick face Cheney slips and says flight 93 was shoot down.

So many lies ti keep track of it happens.

http://m.youtube.com/index?desktop_uri=%2F&gl=US#/watch?v=NNuosBnlw5s

Wed, 12/07/2011 - 00:11 | 1953716 Kiwi Pete
Kiwi Pete's picture

Or maybe a Bill Clinton. "I did not have sexual relations with that client money."

Tue, 12/06/2011 - 19:15 | 1952984 YBNguy
YBNguy's picture

Nope, instead he'll threaten to out other congresscritters for their past/present foul plays al la M. Waters and B. Frank. They will promptly dismiss him and go back to business as usual (fleecing the taxpayers to get their dicks hard/panties moist, oh and to continue lining their pockets).

Tue, 12/06/2011 - 15:14 | 1951957 MsCreant
MsCreant's picture

I am inspired. Let's all get together on the 8th, each with a "fifth" of whatever we like, and drink a shot every time someone at the hearing says "the fifth."

Are you with me?

Tue, 12/06/2011 - 15:22 | 1952000 centerline
centerline's picture

Not sure my liver could take that kind of abuse.  LOL.

Tue, 12/06/2011 - 15:29 | 1952035 BanksterSlayer
BanksterSlayer's picture

Why wait until Dec. 08? I am starting now, as I read down these comments.

Tue, 12/06/2011 - 15:29 | 1952039 Stax Edwards
Stax Edwards's picture

That would most certainly be fatal.

Tue, 12/06/2011 - 16:11 | 1952217 Pitchman
Pitchman's picture

Re. MsCreant:

MGet Drunk!  The vertigo you are now feeling is only the quickening of the Republic going down the drain.

We've posted a few pieces warning of the path that led us to this point.

See: Setting the Trap

The following are quotes from separate articles:

- "Even The Oracle of Omaha has pointed it out.  There is a war going on.  A class war and you are loosing."

- "When it comes to Financial Terrorism; lack of action by those constitutionally sworn to protect the people is the equivalent of active participation at most and passive complicity at least, both of which are acts of treason."

- "The Minions and their enforcers will face a future they are incapable of fathoming."

- "It is all about control and it is time for the American People to Wake up. These people are not acting to protect us. This is the veil to hide their efforts to Centralize Control."

- "Sociopaths are always drawn to positions of power and control, which correlates well with our stunning lack of leadership.  But, this is not a crisis of leadership.  It is a societal and Constitutional crisis.  For it is with our consent; a self serving, Two Party Oligarchy has taken the seat of power..."

- "TO FREE OURSELVES, RESTORE FREE MARKET CAPITALISM AND REESTABLISH OUR CONSTITUTIONAL REPUBLIC, WE MUST FIRST ELIMINATE THE MOST PERNICIOUS CORRUPTING FORCE OF ALL.

END THE FED!"

- "It may seem crazy but could it be just a mater of time before some Joystick cowboy in Nevada starts taking out Americans right here in the good old USA?"

 

Tue, 12/06/2011 - 17:52 | 1952801 Jena
Jena's picture

I suspect it will take at least a couple of fifths.  What the hell, I'm in.

MsC: "and drink a shot every time someone at the hearing says "the fifth."

Tue, 12/06/2011 - 20:50 | 1953249 Mauibrad
Mauibrad's picture

@Careless, my guess on the number of times Corzine pleads the Fif before the Congressmen quit asking questions = 5

Tue, 12/06/2011 - 15:05 | 1951911 GeneMarchbanks
GeneMarchbanks's picture

If by 'sick' you mean Presidential pardon, then yes.

Tue, 12/06/2011 - 15:29 | 1952033 hedgeless_horseman
hedgeless_horseman's picture

 

 

Corzine will need to get in line for a pardon behind Blago.

The impeached state executive-turned-reality TV star has good reason to feel anxious at the two-day hearing. He faces the prospect of 10 or more years behind bars. If Zagel settles on a sentence of more than a decade, that would make it one of the stiffest penalties imposed for corruption in a state with a long history of crooked politics.

 

Prosecutors want the twice-elected governor sentenced to 15 to 20 years, arguing that he has not only shirked all responsibility for his crimes but repeatedly thumbed his nose at the U.S. justice system.

 

...Blagojevich was doing what politicians do — seeking campaign contributions, not "money stuffed into envelopes."

http://news.yahoo.com/crime-punishment-awaits-ex-gov-blagojevich-080730605.html

Tue, 12/06/2011 - 15:49 | 1952129 Freddie
Freddie's picture

Bill Clinton's "firm" was getting $50,000 a month at the end of the MF Worldwide looting.  When will Democrat Bill Clinton be called to testify.  Corzine, Clinton and the muslim - All Democrats,

Tue, 12/06/2011 - 17:32 | 1952731 MsCreant
MsCreant's picture

People have called you out on falling into the two party trap before, you do not come back around to comment.

Are you saying the Repulicans are not responsible for any of this at all?

Or are you a shill?

Or are you a sleepy sheepy drinking his cool aide every dayz?

Democrits make me sick, but so do repugs.

Tue, 12/06/2011 - 17:53 | 1952793 Boxed Merlot
Boxed Merlot's picture

Personally I'm in favor of a two party system in that when a candidate gets elected with less than 50% as Perot caused, the majority of voters are not being represented by the office holder.

 

But that aside, I do find it odd that ZH has not reported more on Teneo and Corzine's contract with the firm.  From Teneo's website:

 

Teneo Strategy's core advisory services include:

Corporate and Financial Communications
Messaging to internal and external audiences (including investors, analysts, employees, and media); brand management

Special Situations Communications
Communications related to M&A transactions, IPOs, bankruptcies & restructurings, change management and other unique situations

Investor Relations
Program development and implementation, earnings preparation, financial calendar management and shareholder analysis

Crisis Management
Communications in times of crisis, planning/readiness, risk mapping and response strategies

Government Affairs
Advice on legislative and political developments, and government relations strategies

 

It also seems odd that the wheels came off the bus right around the time MFG decided to end Teneo's contract.

Tue, 12/06/2011 - 22:55 | 1953523 TheFourthStooge-ing
TheFourthStooge-ing's picture

MsCreant, I think little freddie is just having a difficult time coming to terms with his crush on Obama.

 

Tue, 12/06/2011 - 15:09 | 1951930 TruthInSunshine
TruthInSunshine's picture

It's reported that both Lloyd Blankfein, and more importantly, Jamie Dimon (there's a new squid in town, bigger than the last errand firm of the Red Shield), were caught kissing Corzine on both cheeks, while Dimon is alleged to have gripped Corzine's cheeks tightly, while pulling his face close to his own and telling him that "you broke my heart, John."

Let's see what transpires.

 

#JohnCorzineEqualsFormerSquidCEOgovernorSenatorAspiringPOTUScandidateCurrentObamaBundler

Tue, 12/06/2011 - 20:21 | 1953169 Gohn Galt
Gohn Galt's picture

He don't need no fif.

Everybody lies to congress, so no big deal.  Plus wasn't there another law passed that exempts themselves, friends and family from every possible law on the planet?

Tue, 12/06/2011 - 20:36 | 1953214 Chuck Walla
Chuck Walla's picture

"I'm takin' the nickel"  

- Jonnie "Bags" Corzine

Tue, 12/06/2011 - 22:12 | 1953432 Buck Johnson
Buck Johnson's picture

He most definitely will plead the fifth.  Because there is no reason for what happen to happen unless it was done on purpose, you don't accidently remove 1.5 billion if not more from accounts that are customers.  You had to get authorization and the person who could do it would be Corzine.  Everyone else would know that they where looking at prison time by just doing it.  Also Corzine would fear anything he said would be used against him so he will plead.

Tue, 12/06/2011 - 15:00 | 1951873 slaughterer
slaughterer's picture

Levin accomplished an important consciousness-raising exercise.

Let's get the grilling going on Corzine--I want to see him squirm before being sentenced to prison.

Tue, 12/06/2011 - 15:00 | 1951875 Deadpool
Deadpool's picture

take the 5th.

Tue, 12/06/2011 - 15:02 | 1951878 hedgeless_horseman
hedgeless_horseman's picture

 

 

"I know nothing."

Tue, 12/06/2011 - 15:05 | 1951909 CvlDobd
CvlDobd's picture

30 days in da coola Corzine!

Probably about all he gets, if that.

Tue, 12/06/2011 - 15:19 | 1951987 TruthInSunshine
TruthInSunshine's picture

Goldman Sachs (after banking tens of billions in profits from the Timberwolf/Hudson/Abacus scam) only paid a 550 million USD fine, Mozilo paid a fine, JPM has paid fines (for clearly felonious criminal behavior), Greenberg, well...look at him, Dick Fuld, Hank Paulson (Profit!)...etc. etc. etc.

Even an hour of jail time would be unconscionable, no matter what the proof shows regarding what may be criminal conspiracy and acts, given historical precedent.

Tue, 12/06/2011 - 15:31 | 1952049 Caviar Emptor
Caviar Emptor's picture

There should be no need to jail any WS bankers because, after all, why should they want to harm the US financial system? 

We have come full circle in treating our wealthy citizens as the British once treated their aristocrats: The word of an English gentleman was all that was required as proof of good intention in most cases. All judges were Lords and gave the benefit of doubt to their peers. Many legal entanglements were settled at the palace in secret with a whispered word in the right ear. 

 

Tue, 12/06/2011 - 15:27 | 1952023 karzai_luver
karzai_luver's picture

I expect him to burst into uncontrollable tears about 2 minutes into his open statement (after detailing his great service to the country) and then keel over and be carried out in a "coma".

 

 

Tue, 12/06/2011 - 15:01 | 1951881 Irish66
Irish66's picture

accident in route, no show

Tue, 12/06/2011 - 15:22 | 1952004 TheMerryPrankster
TheMerryPrankster's picture

if Corzine's lips should loosen and he began to talk of things forbidden, he should avoid air travel altogether. Especially small planes and helicopters, they fall from the sky more frequently when the spooks are interested.

 

Tue, 12/06/2011 - 15:01 | 1951882 Schmuck Raker
Schmuck Raker's picture

Remarkable timing. Nothing else going on that day that might distract one, is there?

Tue, 12/06/2011 - 15:01 | 1951883 Seasmoke
Seasmoke's picture

dont forget all the money he raised for Comrade Obama

Tue, 12/06/2011 - 15:40 | 1952097 ReallySparky
ReallySparky's picture

Dennninger is reporting over at market ticker that ole Johnny had hired William J Clintons organization for 60k a month to "work" on his image.  This is all so f*cked.

Tue, 12/06/2011 - 15:01 | 1951884 JLee2027
JLee2027's picture

The Honorable, lol. A title slated to go down in History as one who is a corrupt insider and a thief.

Tue, 12/06/2011 - 15:11 | 1951945 iDealMeat
iDealMeat's picture

And the Nobel Peace Prize  = War Pig

Tue, 12/06/2011 - 15:24 | 1952012 TheMerryPrankster
TheMerryPrankster's picture

That must have been an Ironic Nobel Prize?

Who knew the comittee had such a wry sense of humor?

Tue, 12/06/2011 - 15:31 | 1952051 karzai_luver
karzai_luver's picture

Uh. they renamed the award the NoeBell Piece Fries.

Odumbo couldn't tell the diff.

 

Tue, 12/06/2011 - 15:03 | 1951891 Dr. Engali
Dr. Engali's picture

I'm sure he will get the public tongue lashing then join them all for cocktails afterwards. All the worlds' a stage......

Tue, 12/06/2011 - 15:03 | 1951893 taniquetil
taniquetil's picture

Honest Question:

 

Aside from the shady-as-fuck missing client money thing (which I'm assuming is a whole different lawsuit), what exactly is this hearing for?

 

Companies go under from bad management all the time. What makes MF Global unique?

Tue, 12/06/2011 - 15:12 | 1951948 Dr. Engali
Dr. Engali's picture

I guess the fact that the whole financial system is based on confidence and trust ( what little ther is left) that somebody isn't going to get away with stealing every penny in your account means nothing. No reason at all to hold any hearings.

 

Tue, 12/06/2011 - 15:33 | 1952060 karzai_luver
karzai_luver's picture

Dr

 

Actually when you consider the criminals who will be conducting the hearing you are probably correct.

Only if one of them got stung would they maybe dig a bit.

Tue, 12/06/2011 - 15:14 | 1951956 mayhem_korner
mayhem_korner's picture

 

 

Companies go under for bad management, which dissolves the equity of the company.  Bad product, bad marketing, etc?  You lose what you and other equity-holders put at risk.  Here we've got a firm that is a steward of assets that aren't "the company's." They are supposed to earn money by facilitating beneficial use of others' funds; i.e., most of the money warehoused on MF Global's books was NOT THEIRS.  So they in fact confiscated OTHERS' money, quite illegally, and put at risk that which was not theirs to put at risk.  IT'S REALLY PRETTY DISGUSTING...DON'T YOU THINK??????

Tue, 12/06/2011 - 20:40 | 1953219 Chuck Walla
Chuck Walla's picture

The legal term is "Conversion", but they use commingle because it sounds more "nice".

Tue, 12/06/2011 - 16:54 | 1952553 navy62802
navy62802's picture

Well, the hearing is being held by the Agriculture Committee, so this is obviously going to be about commodity futures. I'm sure there were many farmers who got burned by this firm and the subsequent handling of the bankruptcy.

Tue, 12/06/2011 - 19:12 | 1952980 riley martini
riley martini's picture

 The  commodity exchange needs the confidence of farmers so they can slowly bleed them dry . MFG went for the jugular. Today Bloomturd ran a PR piece on regaining the confidence  farmers after the massive fraud at MFG . Note to farmers Bloomturd is not your friend they mock you behind your back.

Tue, 12/06/2011 - 18:20 | 1952873 FMR Bankster
FMR Bankster's picture

A few of these congressmen were probably engaged in insider trading with MF Global accounts and are curious WTF happened to their money. Jon boy will handle it, You f*cked up, you trusted us.

Tue, 12/06/2011 - 15:03 | 1951895 c'mon man
c'mon man's picture

Need to add Mr.Gerald Celente to this show....that would be fun....what's up with the Honorable for Corzine as well...hide the silver  spoons!

Tue, 12/06/2011 - 15:22 | 1952005 mayhem_korner
mayhem_korner's picture

 

 

I'm hoping Bobby Knight was a client and he gets some face time to question "the honorable."

Tue, 12/06/2011 - 15:04 | 1951898 redpill
redpill's picture

Wouldn't surprise me if this guy decided to take an old fashioned Wall Street leap on or about Wednesday evening.

Tue, 12/06/2011 - 15:07 | 1951923 MsCreant
MsCreant's picture

He's an insider. Other people pay for your mistakes when you are in insider. Expect an unknown, unbelievable, incredible, suicide of a key witness or whistle blower.

Tue, 12/06/2011 - 15:07 | 1951928 GeneMarchbanks
GeneMarchbanks's picture

That would certainly spice things up a bit. Or did you mean "leap", I can never tell?

 

Tue, 12/06/2011 - 15:11 | 1951944 MsCreant
MsCreant's picture

Of course he did, now that you say it. I missed that part.

Tue, 12/06/2011 - 15:35 | 1952067 Saro
Saro's picture

Or perhaps he'll off himself with three to the back of his head.

Tue, 12/06/2011 - 18:04 | 1952839 CatoTheElder
CatoTheElder's picture

Why would a billionaire with a get-out-of-jail-free card take that leap?

Corzine is a "made man" with the Washington Mafia. If he turns up dead it will be because the capo di tutti capi put a contract out on him.

Tue, 12/06/2011 - 15:49 | 1951900 jomama
jomama's picture

if this guy is 'honorable', then i'm a motherfucking ARCHANGEL, bitchez!

Tue, 12/06/2011 - 15:04 | 1951901 ChiefJohnRutledge
ChiefJohnRutledge's picture

He will have to take the Fif.   Too bad Spencer Bachus isn't on the Ag Committee.    That would be fun to watch.  Two uncomfortable frauds pondering what it would be like to leave the halls of Congress for a Federal pen.

Tue, 12/06/2011 - 15:04 | 1951902 MsCreant
MsCreant's picture

So when you take client funds and place bets with it and win, you share the winnings, riiiiight?

Tue, 12/06/2011 - 15:05 | 1951915 redpill
redpill's picture

Heads I win, tails you lose!

That's the way it works with AIG and GM, why not brokerage clients?

Tue, 12/06/2011 - 15:06 | 1951916 ratpack1968
ratpack1968's picture

It's just a formality Jon.  Just answer like we rehearsed it - "I don't recall" and "My attorney has advised me to exercise my rights under the fifth amendment".  We'll have you out of there in time for happy hour at the club.  

Tue, 12/06/2011 - 15:10 | 1951939 MsCreant
MsCreant's picture

He is rehearsing with the experienced one, Bernanke, as we speak.

Hey dudes, you're going to need really good anti-perspirant.

Ben always forgets, don't he?

Tue, 12/06/2011 - 15:07 | 1951927 mayhem_korner
mayhem_korner's picture

 

 

They're gonna need that security escort they were plannin' for when KSM was to be tried in NYC.

Tue, 12/06/2011 - 15:31 | 1952052 Mesquite
Mesquite's picture

Too bad a 'bullet-proof' vest doesn't cover more...

Tue, 12/06/2011 - 15:08 | 1951931 ChiefJohnRutledge
ChiefJohnRutledge's picture

I wonder if Corzine has seen this movie:

http://www.imdb.com/title/tt0086356/

Tue, 12/06/2011 - 15:08 | 1951932 billhilly
billhilly's picture

The only reason I would watch this is if Corzine was going to enter in an orange jump suit with shiny ankle and leg bracelets.  That would be worth something.  Otherwise, another show and no tell time from the perpetual kindergarten class of US Officialdom.

Tue, 12/06/2011 - 15:08 | 1951933 ghostfaceinvestah
ghostfaceinvestah's picture

Wonder if Gerald Celente will show up to heckle him?

Tue, 12/06/2011 - 15:09 | 1951936 Normalcy Bias
Normalcy Bias's picture

Dear God, why did Chappelle have to leave us?

Tue, 12/06/2011 - 15:13 | 1951958 Lost Wages
Lost Wages's picture

At least he's still alive and only had a nervous breakdown. Maybe he'll return to the screen if he ever runs out of money.

Tue, 12/06/2011 - 16:11 | 1952270 Normalcy Bias
Normalcy Bias's picture

Roger that. But, if there was ever a time we could use more of his humor...

Tue, 12/06/2011 - 15:10 | 1951938 oddjob
oddjob's picture

Carl didnt exactly go to town on Lloyd and vin, probably more like dinner on the town after the hearings. Michigan sure has flourished under his 6, so very stale, terms.

Tue, 12/06/2011 - 15:11 | 1951943 non_anon
non_anon's picture

the farce continues

Tue, 12/06/2011 - 15:14 | 1951962 Snakeeyes
Snakeeyes's picture

Hey Jon, you should have looked at my presentation on the European Financial Crisis summarrized for the attention deprived!!!!!

Here is my attempt at summarizing the European Debt Crisis in ONE MINUTE!!!!!!!! For presentation tonight at George Mason University.

Economic Minute Presentation on the European Financial Crisis - Low GDP Growth, Staggering Debt, Geithner On The Prowl In Europe!

http://confoundedinterest.wordpress.com


Tue, 12/06/2011 - 15:23 | 1951963 Caviar Emptor
Caviar Emptor's picture

Corzine: "Gentlemen, the sort of business I was in is far, far beyond your level of comprehension. Suffice it to say I was involved in saving the capitalist system. It was a sad sad day when MF Global, a defender of freedom around the world, was allowed to go under. Clearly the regulators were asleep at the switch once again. I blame it on Congress and big government. Thank you for your attention, I have a plane revving on the runway"

Tue, 12/06/2011 - 15:15 | 1951969 PaperBear
PaperBear's picture

No doubt all ZHers will be watching if only we could throw rotten vegetables at him.

Tue, 12/06/2011 - 19:20 | 1952993 pine_marten
pine_marten's picture

I vote for frozen rutabagas.......

Tue, 12/06/2011 - 15:16 | 1951972 hairball48
hairball48's picture

They won't learn anything from this shitbag. I agree that he'll be pleading the 5th and/or "not recalling".

I don't have TV anymore anyway...and glad of it.

Tue, 12/06/2011 - 15:17 | 1951976 markar
markar's picture

considering the empty suits on that committee, watching the test pattern will be more interesting.

Tue, 12/06/2011 - 15:20 | 1951993 centerline
centerline's picture

Oh fuck me.  I popped in as quick as I could to post a link to the Chapelle "5th" skit only to find Tyler already had it.  Oh well.

Tue, 12/06/2011 - 15:22 | 1951999 The Axe
The Axe's picture

You guys said it all     already....Jon says nothing..

Tue, 12/06/2011 - 15:22 | 1952006 Smokey1
Smokey1's picture

An excellent article today on Financial Sense website----an interview with Ann Barnhardt on how Corzine used MF Global to steal billions $ and why he will get away with it (hint---he contributes heavily to a certain Kenyan ). Ann knocks it out of the park.

Tue, 12/06/2011 - 17:16 | 1952651 SwingForce
SwingForce's picture

Yes, and here's the audio interview:

http://www.netcastdaily.com/broadcast/fsn2011-1201-1.mp3 

Tue, 12/06/2011 - 15:23 | 1952007 simone
simone's picture

With bated breath, John cannot abate the committee's baiting breaths.

Tue, 12/06/2011 - 15:24 | 1952013 Bansters-in-my-...
Bansters-in-my- feces's picture

So we all know what these Vegetables, "Agricultural Committee" is going to " turnip,they are all peas in the same pod.

No "Financial Service Committee " in the USSA,

Ya ,I thought so.

Tue, 12/06/2011 - 15:30 | 1952043 midgetrannyporn
midgetrannyporn's picture

The Ag Committee. LMAO.

Tue, 12/06/2011 - 15:36 | 1952076 Bastiat
Bastiat's picture

Good place for the hearing: farmer's sell forward production to finance planting.   You think Celente is hot?  He just acts out more.  These farmers are really pissed off--they are slow to anger and they don't forget. They will continue to be all over their elected congress critters.

Tue, 12/06/2011 - 16:07 | 1952243 midgetrannyporn
midgetrannyporn's picture

If there were a fight between every farmer in the usa and j. corzine I would not be betting on the hayseeds.

Tue, 12/06/2011 - 16:13 | 1952282 ParkAveFlasher
ParkAveFlasher's picture

Although if the American farmer goes on strike, LOOK THE FUCK OUT WORLD>

Tue, 12/06/2011 - 16:16 | 1952304 Big Corked Boots
Big Corked Boots's picture

I do remember the NJ Farm Bureau holding out hope for Corzine right before he took office. They felt he would remenber his roots, having grown up in rural Illinois, and all... Right. The parts of NJ that had real, live plants growing in them got it good and hard.

Tue, 12/06/2011 - 16:40 | 1952471 ParkAveFlasher
ParkAveFlasher's picture

that's interesting...my origins are in NJ, love the summer tomatoes and blueberries and strawberries, that sandy soil is best in the country for those...please explain, what did the NJ farmers hold out for, preference?  NJ economy is driven largely by big pharma, specialty chemicals (via the roots of Standard Oil, to my knowledge), and Port Elizabeth / Turnpike commerce.  And if I remember correctly the "squid" (my first time using the word) has HQ right in Jersey City and they built it during Corzine's tenure as gov.  It interests me what support he drew from NJ ag community, can you elaborate?

Tue, 12/06/2011 - 20:18 | 1953155 Bastiat
Bastiat's picture
MF Global fallout delays U.S. farm seed, land deals

(Reuters) - For the first time in 25 years, Minnesota farmer Dean Tofteland has missed his deadline to buy seed for next spring's corn and soybean crops.

With $200,000 of his money yet to be returned from the accounts of MF Global, his former broker, the 49-year-old farmer has missed a $5,000 discount for early buyers, and is watching friends and neighbors snap up the best varieties of seeds."

Food, you can't eat it . . . if it's never planted.

. . . . and you think Celente is pissed off?

Wed, 12/07/2011 - 08:49 | 1954275 MsCreant
MsCreant's picture

Holy hell, more of this is coming to industries near me and you. This really has just begun, WOW!

Tue, 12/06/2011 - 15:25 | 1952015 yogibear
yogibear's picture

Corzine and his associate criminals will find some flunky to take the rap.

Tue, 12/06/2011 - 15:25 | 1952016 SirPlayomic
SirPlayomic's picture

So an ex-Goldman Sachs CEO is testifying at a commitee of the Goldman Sachs owned Congress... I'd love this guy to go down as much as the next man (perhaps not as much as Gerald Celente wants), but it's not gonna happen. He'll get his comeuppance eventually, not in some cozy hearing, but on the streets once the SHTF.

www.greedion.com

Tue, 12/06/2011 - 15:26 | 1952021 harmonymonkey
harmonymonkey's picture

 "baited" breath??!  It's "BATED" breath!

This may assist you in remembering:

Sally, having swallowed cheese,
Directs down holes the scented breeze,
Enticing thus with baited breath
Nice mice to an untimely death.

Tue, 12/06/2011 - 15:30 | 1952047 Odin
Odin's picture

lol dude look closely ^...

Tue, 12/06/2011 - 15:29 | 1952034 Peter K
Peter K's picture

Actually, Corzine is a Clintonista. With out an further adue, I bring you Rush:

http://www.rushlimbaugh.com/daily/2011/12/06/clinton_cashed_in_on_corzin...

One of the facilitators who is responsible for the William Jefferson Clinton Presidential Library and Massage Parlor:)

Tue, 12/06/2011 - 15:31 | 1952056 PulauHantu29
PulauHantu29's picture

Who would have ever thought stealing on Wall Street is illegal?

 

Tue, 12/06/2011 - 15:41 | 1952105 Caviar Emptor
Caviar Emptor's picture

It's not stealing if the victims were tricked instead of forced. Then they're just a patsy, outwitted by a smart guy. See?

Tue, 12/06/2011 - 15:39 | 1952095 yogibear
yogibear's picture

Not even a dog and pony show? Waiting for some poor clerk to be slapped with fraud charges. Maybe the justice department destroys the records  and the ivestigation dead-ends. 

Tue, 12/06/2011 - 15:44 | 1952115 Few
Few's picture

He will excrete fecal matter as truth. Congress will interpet the feces as being good for the country. Most will accept they will have to to suck it to continue business as usual.

Tue, 12/06/2011 - 15:54 | 1952156 FreudianSlip
FreudianSlip's picture

Until we see a perp walk of Corzine in an orange suit along with hundreds of other top frausters nothing has changed.

 

This is just another political dog and pony show that has abolutely no teeth to penalize anyone.  Meantime, new found billions are being used to buy up 3rd world assets and prime farm ground for a select group.

 

It's about the food bitches, cause the masses won't be eating gold.  This is a commodities heist as farmers get pushed into the sell out pit.

Tue, 12/06/2011 - 16:06 | 1952235 FreudianSlip
FreudianSlip's picture

I gotta love the new banners on ZH for the US Farmers Ranchers Alliance.......................little Monsanto and the rest of the gang.

 

Click dem banners boys!  Run up their tab to Tyler..........and hey, they got comment site as well.........hummmmm.

Tue, 12/06/2011 - 16:08 | 1952245 Cone of Uncertainty
Cone of Uncertainty's picture

I'm not here to talk about the past.

Tue, 12/06/2011 - 16:13 | 1952283 Xanadu_doo
Xanadu_doo's picture

I wondered why this falls under the ag committee... Bueller? Bueller? Anyone? Anyone?

The Ag Com is headed by OK rep Frank Lucas. Here's a clip of him - maybe to help some smarter-than-me people analyze what we might expect.

http://www.youtube.com/watch?v=y574XyCBBZo&feature=player_embedded#!

Unfortunately, except for the unicorns-shitting-skittles-next-to-rivers-of-hopium world can we expect any of these stealing bastards will be punished by the other stealing bastards.

Tue, 12/06/2011 - 16:22 | 1952338 Xanadu_doo
Xanadu_doo's picture

Here's a maybe more appropo clip of Lucas questioning Geither on the gubaments toxic-asset purchase plan: 

http://www.youtube.com/watch?v=RGnlp8_AJeQ&feature=endscreen&NR=1

He seems to be pretty friendly imo. At one point seems to offer him an answer, and throughout encourages his lies.

 

The game is rigged - against us!

Tue, 12/06/2011 - 16:29 | 1952387 JW n FL
JW n FL's picture

 

 

no one wants to flip the apple cart.. they just want to slow it down.. so when their guy gets in they can print at full speed and thusly become the Hero's who saved the day and World all at the same time!

I would not look for a lot of drama even if Jon shows up from anyone.

Jon covered the Koch Brothers $7 - $8 Billion.. before the ship sank.

There is no red v blue or blue v red.. there is us and them.. and none of us want to live like them.. therefore we all will allow bullshit to continue going forward until the whole pressure cooker blows up!

and then.. we will be rid of all these sheep who suck away precious resources so that we and ours may have use of the resources longer.

call it a spring cleaning, a needed spring cleaning..

and if you don’t like it.. give up your Ferrari and buy an electric car and start protesting.. we will add your name to the list!

If I give up my falcon it will be for a global! Fuck the sheep

Tue, 12/06/2011 - 16:45 | 1952505 ParkAveFlasher
ParkAveFlasher's picture

This might be why, I wonder if this is the iceberg tip for liquidity for agriculture in America.  I tell you what, if he / squid has fucked with food supply liquidity, don't forget that America is a global bread basket, it's a whole lot of shitstorm globally and that is a black fuckin swan with a yeast infection.  as we all know it was foodstuff price inflation aka hunger that triggered the so-called Arab Spring in N. Africa ... just speculatin' on the conspiracy here, don't mind me...

http://online.wsj.com/article/SB1000142405297020408320457707851219556939...

Tue, 12/06/2011 - 16:20 | 1952329 JW n FL
JW n FL's picture

 

 

Jon is just miss-understood, he meant well and if he would have been a month (or two) later.. he would have profited handsomely! from the Euro bailout to save the World / 1%!

 

He would have been a Hero next week, if only!

 

Timing is everything, especially in a World of Squeeze Plays! Sorry Gold Futures Holders!

 

Tue, 12/06/2011 - 16:51 | 1952539 stoverny
stoverny's picture

This guy is the worst kind of Wall St slimebag.  I actually prefer Blankfein who makes no bones about the fact that he'd probably sell his own mother for the right price.

Corzine on the other hand had the warm and fuzzy beard, and acted like he was morally superior when in fact he was just another amoral, greedy, money-grubbing passenger on the Wall St-Washington Blowjob express.

Tue, 12/06/2011 - 16:53 | 1952547 TruthInSunshine
TruthInSunshine's picture

#KillTheWhales&SealsButLeaveJohnCorzineAlone

Tue, 12/06/2011 - 17:14 | 1952643 rpboxster
rpboxster's picture

Tyler, please send the committee a list of questions, so we can be sure the rights ones are asked.

Tue, 12/06/2011 - 18:20 | 1952874 TideFighter
TideFighter's picture

I saw the tail of a helicopter headed towards Corzine's house. Maybe they will get him watching tv before burial at sea? You don't mess with a marine's MF account.

Tue, 12/06/2011 - 18:20 | 1952875 Heroic Couplet
Heroic Couplet's picture

"Obama Administration." Yeah, show us that Corzine/MF Global/Goldman Sachs NEVER gave money to a Republican or to lobbyists visiting Republicans on Capitol Hill, then we can agree on using the term "Obama Administration. Otherwise your error is known as a glittering generality.

Tue, 12/06/2011 - 21:36 | 1953356 philgramm
philgramm's picture

I agree with you.  Both parties have been hijacked by the highest bidder.  Paulson was a Goldmanite who pulled the "collapse card" to steal nearly a trillion dollars under Bush (who knows how much more under the table bailout money was added to that).  Obama is simply the newest tackling dummy/punching bag/enabler.  

Wed, 12/07/2011 - 06:53 | 1954135 Peter K
Peter K's picture

ONLY the Tea Party is as pure as the wind driven snow:) And that's a fact Jack:)))))

Tue, 12/06/2011 - 18:23 | 1952884 Frederic Bastiat
Frederic Bastiat's picture

Do you start calling someone 'Honorable' after their senior management tenure at Goldman?  Ya know, god's work and all. 

Tue, 12/06/2011 - 20:06 | 1953119 azzhatter
azzhatter's picture

I am picturing "My Cousin Vinny" with Gerald Celente playing the Joe Pesci role.

Tue, 12/06/2011 - 20:07 | 1953124 junkyard dog
junkyard dog's picture

I'll explain it. It is called math.

Tue, 12/06/2011 - 20:50 | 1953236 robertocarlos
robertocarlos's picture

Sorry I had to edit my post. I forgot Oswald was innocent.

Tue, 12/06/2011 - 21:30 | 1953339 philgramm
philgramm's picture

Does anyone else feel like this hearing is gonna be the best financial porn since Lloyd's congress hearing?  I mean, it'll be really interesting to study Corzine's facial expressions and body language.  These guys are good liars but they always give it away through non-verbal cues.  I will watch this one for sure.  

MF Global is such an important situation because it takes the fraud of 2007 (Lehman/Bear) and antes up.  They have seized retail client funds and JP Morgan (a creditor) is making sure that it gets paid before the retail clients do.  We all know there will be no money left once JP Morgan has collected its share.  This means this firm gambled with client money without client knowledge or approval.  It's the sign of a sinister aspect of society that values everything in terms of money.  Their world is spent obsessing over money and how to get more of it.  It was inevitable that this culture would brig us to a point where people cut any corner to try to make more and more money.  

There is no more blatant action than the MF Global fiasco to prove that client money is not safe in these brokerage houses.  They are all levered to the nth degree and when they become illiquid retail client funds will be seized.  I guess I'll have to pay the 10% penalty and remove money from my IRA.  I am lazy and want to believe that my IRA is safe but that's the lazy delusional in me.  The rational me knows better.  Let the fireworks begin.

Tue, 12/06/2011 - 22:06 | 1953422 Stuck on Zero
Stuck on Zero's picture

If he doesn't leave in cuffs the whole committee should be taken out in cuffs.

Wed, 12/07/2011 - 00:44 | 1953810 FreudianSlip
FreudianSlip's picture

There aren't enough cuffs or jail cells to hold every political-business fraudster that has made over $1Million on a sly deal since 2008.

Tue, 12/06/2011 - 22:10 | 1953430 VelvetHog
VelvetHog's picture

I hope the HAC isn't too hard on the little fellow.  He has the right to make a living after all. 

Wed, 12/07/2011 - 00:03 | 1953697 FreudianSlip
FreudianSlip's picture

Hey, is it really true Corzine is a strawman for Obama in a bunch of high dollar deals from heaven?

Wed, 12/07/2011 - 00:35 | 1953785 Deo vindice
Deo vindice's picture

Tyler - I'm curious.

How do you type the words "honourable" and "Corzine" in the same sentence without your fingers seizing up? Mine hurt just typing the question.

Wed, 12/07/2011 - 00:36 | 1953789 Deo vindice
Deo vindice's picture

Tyler - I'm curious.

How do you type the words "honorable" and "Corzine" in the same sentence without your fingers seizing up? Mine hurt just typing the question.

Sat, 12/24/2011 - 05:08 | 2008961 onebir
Do NOT follow this link or you will be banned from the site!