Today's primetime popcorn event is about to begin: as reported earlier, the House Financial Services Committee will hold an oversight and investigations hearing on the collapse of MF Global, beginning at 3 pm. The hearing will focus on the decisions during the company's final days that led to the disappearance of up to $1.6 billion in customer funds. The party line is that "The investigation aims to "not only to find out where the money went but to identify what went wrong in order to prevent this from happening again," Subcommittee Chairman Rep. Randy Neugebauer (R-TX) said." What instead will happen is that a bunch of politicians will huff and puff, and nothing will happen once again, because to take down Corzine, would mean to start eating away at the entire rotten core of today's captured political system, which has and always will be run out of Wall Street. It will also be amusing to listen to Edith O’Brien plead the Fif.
Full webcast after the jump, where the empty seats will be populated by empty suits.
The witness list and prepared remarks can be found below.
- Ms. Laurie Ferber, General Counsel, MF Global Holdings Ltd.
- Mr. Henri Steenkamp, Chief Financial Officer, MF Global Holdings Ltd.
- Ms. Christine Serwinski, Chief Financial Officer for North America, MF Global Inc.
- Ms. Edith O’Brien, Assistant Treasurer, MF Global Inc. (no written statement submitted)