"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


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


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:

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GeneMarchbanks's picture

Go ahead ask me a question?


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.


redpill's picture

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


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?

TruthInSunshine's picture

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

Chupacabra-322's picture

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

Chupacabra-322's picture

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

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.

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.

Kiwi Pete's picture

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

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).

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?

centerline's picture

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

BanksterSlayer's picture

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

Stax Edwards's picture

That would most certainly be fatal.

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..."



- "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?"


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."

Mauibrad's picture

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

GeneMarchbanks's picture

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

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."


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,

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.

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.

TheFourthStooge-ing's picture

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


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.



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?

Chuck Walla's picture

"I'm takin' the nickel"  

- Jonnie "Bags" Corzine

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.

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.

hedgeless_horseman's picture



"I know nothing."

CvlDobd's picture

30 days in da coola Corzine!

Probably about all he gets, if that.

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.

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. 


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".



Irish66's picture

accident in route, no show

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.


Schmuck Raker's picture

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

Seasmoke's picture

dont forget all the money he raised for Comrade Obama

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.

JLee2027's picture

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

iDealMeat's picture

And the Nobel Peace Prize  = War Pig

TheMerryPrankster's picture

That must have been an Ironic Nobel Prize?

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

karzai_luver's picture

Uh. they renamed the award the NoeBell Piece Fries.

Odumbo couldn't tell the diff.


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......