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MF Global Hearing Live
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.
WITNESS LIST
Panel I
- 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)
Panel II
- Ms. Diane M. Genova, Deputy General Counsel, JPMorgan Chase & Co.
- Mr. Daniel J. Roth, President and Chief Executive Officer, National Futures Association
- Ms. Susan M. Cosper, Technical Director, Chairman, Emerging Issues Task Force, Financial Accounting Standards Board
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Take a shot! I plead the FiF...
Ooops take another!
FIFTH AMENDMENT I'M THE PUSSY CAT
fifth x?
Corzine got her by the balls
there arrr manyy amendmentsssss to the constitution of the united states of americaaaaaa....i can only choose one....i plead da fif
1..2...3...4...FIF!!!!!!!!
O'Brien pleads Fifth multiple times. And, dismissed from the panel. Will neither confirm nor deny she's looking for an immunity deal from Justice.
Ms Obrien finds this hearing "funny" with her smirks.... BITCH! Sleep well sloppy face....
I'd say those smirks are a type of nervous laughter, as she's between the proverbial rock and a hard place. She speaks and bad things happen to her and people she loves. She stays quiet, and she looks bad in the press as being obstructionist.
Which would you choose?
Thar she goes... refuses to answer ANY question
Which pretty much admits that A crime was committed, now the only question is what exactly was the crime and who executed it?
Now the others are shitting their pants wondering if they should pled the fifth and run too. haha
Ms Obrien sounded like she has some type of speech impediment.
It's called... "the truth"
LOL, the Obama/Corzine dog and pony show. Just show up, they call you honorable and then make up stories. Teflon Corzine walks out when done.
Wonder who Corzine's patsy will be? Corzine will direct the blame to some poor chump that didn't know what was going on.
Time to dig up Oswald..."I'm just a patsy".
Nobody got the memo!!!!
Look at this shit show....Fuckin LIARS!!! These highly educated, high level executives all of a sudden dont know shit?? All of their noses are getting longer like FUCKIN Pinocchio!!!!
this is scary how close this is to MF global hearings
http://www.youtube.com/watch?v=-XoMVtqYdsA
MF'ers. How apt.
It's one thing for banksters to steal from each other. It's quite another when they steal from Ranchers and Farmers.
I'm glad I'm not you Corzine.
Did someone fill O'Brien "Ms. Take the Fifth" with cotton before this hearing? Sheesh. She sounds like a deaf person trying her best to speak.
I thought that too Tim.
T-T-T-Timmah!
"This isn't rocket science". Yep.
that scmucky looking CFO has scapegoat written all over him
It's not a person to blame, its between the "teams". Nobody has authority to transfer segregated funds. Only "teams", "groups". Ah? 2 names? Not in the room? Sorry!
HAHAHA it's getting interesting, I feel the tension growing...
Larry Curley and Schmooooo.
No ine is respoonsbile, ....not mine???
http://youtu.be/jocRd-aajW0 and the babes were Danceing with the Snarls, during a huge earnings week, and downgrade???
chief atty, does her Schultz, CFO at dancing with the schlubs. how did this company run, as CME counterparty?>
Please!!!!
stupid or planned to sink the Bismark, by the Banks????
I WANT MY BONUS say all of them
sooner, rather than later, there must be a sacrficial mass -- a foreboding bathos of obviate detente -- the 'temple's, money-god', demands to be appeased at any ungodly costs,... perhaps Corzine will be fed to Cerberus, with the bellicose cry of de`chairsatan's anguish temporarily satiated... http://www.youtube.com/watch?v=vCTaxGhRC5M
I wonder why they didn't offer O'Brien immunity for her testimony. Of course that might not be enough protection given who we're dealing with.
Because nobody in the DC club wants her to talk.
"Thank you for being consistent and adding nothing to the conversation."
Funny stuff!
Capuano performed excellently. In fact, he might be up for an Oscar for this performance.
Ferber meanwhile, does lawyers (and sophists of all stripes) proud by adding nothing while remaining unimpeachable with her non testimony.
and "I don't recall" makes its opening appearance
The dishonorable Corzine and his merry band his thieves probably have already created a paper trail to blame some corporate chump that knew little about it. Probably took them a while.
Who is the bearded guy with glasses sitting behind Miss Piggy?
He has a perfect WTF expression
Obviously a YES man...
Berstinky?
Miss Piggy stole the money and bought groceries. Inflation I tell ya
I SMELL LIES IN THE AIR
Looks like someone has some "bonus" weight they could stand to lose.
Heh.
This is not complicated, John Corzine stole the money, and is a big time insider in the democratic party, He is being protected BTPTB .
They will party like no other when they get away with this, and they will.
dam another last minute kill on the VIX today from up 15% to under 2% lol
The gentlement of the Comitee talking tells it clear: clients were ROBBED. More amnesia, elusive explanaitions, and/or FIF coming.
Hey Ferber, why SIPC?
Where is judge Roland Friesler when you need him to ask some questions and get some answers?
"Your lies are less useful than the liar who pleaded the fifth and said nothing"
Brilliant
1.6 billion?
What's the big deal?
Arrest Corzine! WTF!
Chumps! LOL
Bonnie and Clyde were "chumps"... that was great.
HFSC phoney: "I want to make sure this doesn't happen again".
Translation..."we'll declare this a disgrace"...and move on.
This is embarassing.
The portly chick is a riot.
I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall! I don't recall!
"It's inconceivable" that there be crooks in Chicago.
Hehehehehe
These reps are going to town... looks like a few of them did their homework.
That blond woman's voice is making my cats cry
What's up with all this racist 'segregation' talk?
We need Maxine Waters here.
"Shame on you. Shame on you."
Love it.
The inside of a jail cell ought to refresh some memories .
The beauty of Maxine Waters' hair is breathtaking.
As is the depth of her stupidity.
She can't even read out loud very well. I bet she's a proponent of education reform.
I'm shocked that after a couple of easily deniable questions, she's actually asking pertinent ones.
(big win for her staff)
THe blonde's gonna cr4ck!!! Miss Gradenko! Sing x-tine sing!!
The blond Ms. Lewisnsky?
Maxine Waters....The chief crook herself....Is that BIATCH drunk or is she always a shit head!
Shame on you! Shame on you MFGlobal. That deserves a place in a youtube cut. Soon. Expect... you know ;)
Maxine Waters speaking...time to turn it off before I have a stroke listening to that corrupt woman.
Waters- "Was any of them farmers black?" This is racism , where is Al Sharpton? "Did those farmers have hoodies?"
will she socialize him or nationalize him?
Ooooh... Maxine getting tough. That's unusual
Time to short Price Waterhouse&Cooper(Earnst&Whinney)?
Maxine shorted them yesterday
To the best of my recollection I can't remember.
That'll teach ya to play the 'I Can't Recall' drinking game, in these situations.
I would have AlCoHol poisoning!
Present! (paw up)
No Maxine...PWC is not incompetent...YOU ARE BIATCH!
I think she uses a crayon to take notes....
Waters' is clueless.
This song was playing in Maxine Waters Head http://www.youtube.com/watch?v=4MFbn8EbB4k
Is that a South African accent?
Wanna learn to speak English with an Afrikaans Accent? www.youtube.com/watch?v=jNJVMJH5OhI
That guy just say 'Miss Lewinski'?
I
D
K
"I don't know" (n times)
My memory was VAPORIZED!
Maxine Waters is like that black elementry school teacher i had, she would teach about Martin Luther King holiday, ALL FUCKEN YEAR
When I was a teacher, I liked to teach the kiddes about Malcolm X.
i am sure they remember you with warmth and love
Were you all aware that MF stands for "Mising Funds"?
and G for gone
OMG! I can't watch anymore...... But I don't remember why......
Embrace the pain.
Hearing stomach rumblings - DelMonico's is calling.
Jeeves! Warm up the jet!
Get over it, it was completely legal. Congress can ask him some moral questions only.
This is the most transparent time in our history.
Clearly.
"If you were trying to be transparent, would you characterize that as if you were Kevin Bacon in "Hollow Man"?"
haha - i love watching these cheating f*ckers squirm... I know nothing will come of this because its all a dog and pony show... but watching them squirm is still good ;-)
wow that steenkamp is being sooo evasive...lil son of a bitch is guilty as OJ
Why are you asking me this? I'm the CFO, dammit! Only here for the bonus!
What, me work? Haavaad.......
"Bonuses have not been discussed to my knowledge."
Too complicated to fail.
too stoopid to convict
I have a coupld of questions:
1. Why is CONgress involved? They won't accept their constitutional mandate to determine the value and quantity of money, however they take over the responsibility of the courts creating MOCK TRIALs where there clearly should be REAL TRIALS. What a bunch of scared Bozos (and that is an offense to the name of Bozo).
2. What happened to the apparently long forgotten legal precedent called an AMMENDMENT TO THE CONSTITUTION? Congress has decided to abdicate its mandated responsibility to write constitutional laws and when they are not constitutional they are supposed have them approved through an AMENDMENT PROCESS. Today instead, they pass any crap laws their lobbyists pay them to pass not caring if they are constitutional, proclaiming that the supreme court will determine constitutionality (IF someone has the money, fortitude to sacrifice one's life for a noble cause and the longevity to get the case to the supreme court ... and that is assuming the court will not just blow it off for political reasons)... AND worse still, they allow the Dictator in Chief to make any royal (executive) proclamations he sees fit, ingore all laws, create all treaties superceding laws and the NEVER EVER, EVER, CHALLENGE this extra-constitutional power grab.... guess the money is just too good.
Maybe the dictator in chief should just get on with his Hitler thing and dissolve Congress, now rather than after the election, so this all comes to a head.
Involved to roast myriad Administrative agencies that luv midget porn too much.
This is just the prelude to 'crossing the T'.
1. Why is CONgress involved?
tyler sez they are gonna all get on TV and do the psuedo-perp-walk thing and then FIX it so it doesn't happen again
GaaaHhhhhaarrrrhgghghghghrhhrh, BiCheZ!
unfirtunately they will all slip through the grips of the justice system by the complex system of bribes and extortion and protection provided by the system which politics represents
............ OK ............ I'm lying dammit .......... can I take a piss now?
Ms Ferber was Jon Corzine's ho....from Goldman Sachs...she made her way to Jon Corzine to give him a Happy Ending....and so went MF Global
I'm expecting Jamie Dimon to come in any minute to take over the questioning from his employees.
I'm really disappointed in myself - they've actually managed to shock me, I'm sitting here dumbfounded at what I'm hearing. And it keeps going on and on and on...
oh, now Gary Gensler is mentioned... now it gets really interesting
The english chap is lying his ass off about not knowing about the shortfall in customer funds until Sunday. My account was shutdown and not able to be accessed on Saturday morning. Liar, liar, liar, purger.
Grow some balls congress and slay them with facts.
Waterboard that pussy and record the singing.
I think he's South African.
"I became CFO in April....uh, uh...I stayed in a Motel 6 the night before."
Did you report that fact? If what you say is true, this is rock solid proof because it would also include up to the IT staff to shutdown accounts before saturday morning. So if you're a MFG customer, I insist, please report the information. The computer used to try to access the accound might have been useful as evidence (cookies and event history logs).
U MUST report this!
If I had broker that stole from me he'd look like JC
nice hoodie.
'All the water above the line is Vodka. It ain't rocket science.'
I might have misheard...
Who poured the water?
Everclear.
(sign of the cross)
Begone, you tempter!
(Got a bottle of that devil juice around here, somewhere. Great for drying brake parts.)
At MF Global the glass was definitely half empty
The customers could have all made bad trades that day.
That's where the money could have gone???Is the CFO on the same drugs as Maxine???
all the customers could have bought MF Global stock
Dammit, somebody drop 'Brian Sachs' already.
Who is the Drunk Beaver behind the fatty?!
'I have a degree in Janitor Accounting'. WTF?
The ears are the first to go.
Oh, little memory challenge for Steenkamp. Good for the youtube video kthx.
Did I just hear 'sheep'?
This needs a rewind.
Just tell me 'I don't know' doesn't count as 'ICR'.
If they spent one one thousandth of the time and resources on this as they did on those toothless fucks called the "hutaree", which was an airball, this thing would be over, and 10 orange jumpsuits would be filled. The whole justice systems smells like JC's frumunda cheese.
It is a joke. Risking capital in America is insane.
Be nice. It's tough being toothless.
The CFO is a youg buck hired in April with a 78 percent grade (C+) because I think they had this planned all along and he is the scapegoat! He was invloved with just enough to pin all the doubt on, but was truley kept from all of the real facts. If you wanted to keep a CFO for a long time and "in the club" wouldnt you hire a Harvard grad like yourself? I think this goes really deep with JPM and much further back in time.
Internalize the profits, socialize the losses.
Yes, we need more free condoms.
Preferably, big enough to cover these dicks.
I understand the word bonus ---- this other stuff ....... that I just don't understand
Can foreigners plead the fifth??? If I was a certain S. African CFO, I'd look into it.
This filthy industry would start to clean right up if just ten of the right heads mysteriously ended up on public platters. Old school-like.
Well that went well.
I find it humous that all the folks under oath and their attorneys carry all the briefcases, note pads, etc...and none of them could answer a question....Such a mockery of the process.....
Well, the risk would be that trying to provide any evidence would VAPORIZE it by an obscure mechanism.
That will make a hell of a video. Let's see what has to say the second pannel.
Has anyone taken the 5th yet? Cuz I need a drink.
I hope they can find a prison with lots of African American inmates for the South African scapegoat
White South African college graduates are usually very even minded on racial issues
Look at the JPM folks smiling. They know they got a free pass and are looking forward to softball questions.
"We got your money bitches!"
Ms Genova from JP Morgan looks like a TROLL.....
It will be difficult to resist putting a TROLLFACE in a youtube cut. I'll be on it as soon as the videos are published for download.
This Genova guy doesn't inspire confidence. Oh, wait......
dude...you made me spit up my bourbon!
OMG, there's more? I'm gonna be bounced again fer sure.
This Genova better be good, cuz she can't make it as a hooker even in the land of the blind.
All right, the dogs are eating the dogs! Go Dimon!
I love the nose tick on Mr. Genova. What a high pitched voice he has.
I'm confused. Is the JPM person a feminine male or a masculine female?
Which one is currently PC?
I'M sick of listening to all these FUCKING LIARS!! Just fucking shoot them and get it over with. Some of them, of course, should be pistol whipped before being shot. Shooting them would put ME out of my misery of listening to all this BULLSHIT.