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MF Global Hearing Live

Tyler Durden's picture




 

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

 

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Wed, 03/28/2012 - 17:20 | 2298654 meetired
meetired's picture

Pussy.  Drink more, this is great!

After all, it's only your Country disappearing.

Wed, 03/28/2012 - 17:42 | 2298739 blu
blu's picture

Comment voted Best of Thread.

Wed, 03/28/2012 - 17:17 | 2298644 Ralph Spoilsport
Ralph Spoilsport's picture

Genova's hairstyle by FlowBee. Wardrobe by Tractor Supply.

Wed, 03/28/2012 - 17:20 | 2298650 hangemhigh77
hangemhigh77's picture

The south african had a 78 average. Geez, 75 and below is a D average. This guy is an idiot.  Perfect for a scapegoat.

Wed, 03/28/2012 - 17:20 | 2298651 Ralph Spoilsport
Ralph Spoilsport's picture

Is that Hyman Rothstein's little boy all growed up?

Wed, 03/28/2012 - 17:20 | 2298652 hangemhigh77
hangemhigh77's picture

I wish someone would punch this dipshit in the face and bust his glasses right off his face. What a blowhard deuchbag.

Wed, 03/28/2012 - 17:20 | 2298653 BeetleBailey
BeetleBailey's picture

I've long said this;

Morpf the D.E.A. into a financial crimes squad.

Those ruthless bastards are good at busting down doors, setting up stings, and tirelessly going after gang-bangers and drug gangstas here - let them go after the likes of the beard Corzine and the other bastard financial thugs.

 

Replete with all the ordinance; firepower and black bag authorization.

THEN let's see these motherfuckers try to touch customer funds.....

Wed, 03/28/2012 - 17:23 | 2298657 meetired
meetired's picture

Sure.  More Goobermint will fix it.

Just send the Dept of Edi swat teams in.

Wed, 03/28/2012 - 17:29 | 2298686 NotApplicable
NotApplicable's picture

Please step away from the Kool-Aid!

Don't you realize the DEA exists to protect the real drug runners from the street thugs? The more heads they bust, the more their bosses make shipping stuff up from Mexico.

In other words, it's nothing more than a barrier to entry in a very profitable market.

if you focused these guns on Wall St., they'd ignore it all and take out Main St. banks instead.

Government is nothing more than the most organized form of crime.

Wed, 03/28/2012 - 17:22 | 2298658 Ralph Spoilsport
Ralph Spoilsport's picture

More spot checks....yeah, that's the ticket!

Wed, 03/28/2012 - 17:22 | 2298659 DCon
DCon's picture

Is Genove a Massey Ferguson or John Deere man?

Wed, 03/28/2012 - 17:22 | 2298660 gimli
gimli's picture

....... we will also limit internet porn time --- but not by a lot

Wed, 03/28/2012 - 17:22 | 2298661 hangemhigh77
hangemhigh77's picture

Oh fuck your BULLSHIT rules. here's a rule...if you're caught fucking up you get your fuckin head busted.  Let's go with that rule for now motherfucker.

Wed, 03/28/2012 - 17:23 | 2298665 Ralph Spoilsport
Ralph Spoilsport's picture

Probably a good thing you're drinking alone. You've got company BTW.

Wed, 03/28/2012 - 17:23 | 2298664 hangemhigh77
hangemhigh77's picture

customers? what customers?  The only thing that's gonna be overwhelmed is your fat ass when I jam my boot up it

Wed, 03/28/2012 - 17:25 | 2298673 meetired
meetired's picture

As a taxpayer, I can assure you I resent that.

Wed, 03/28/2012 - 17:25 | 2298671 hangemhigh77
hangemhigh77's picture

stfu bitch.  Tell us about your sex life first. I heard everyone who works at JPM is a whore.

Wed, 03/28/2012 - 17:27 | 2298678 Ralph Spoilsport
Ralph Spoilsport's picture

She's definitely into S&M.

Wed, 03/28/2012 - 17:26 | 2298674 Ralph Spoilsport
Ralph Spoilsport's picture

Ah, this one is verifiable as female.

Wed, 03/28/2012 - 17:26 | 2298675 bankrun
bankrun's picture

Mr(s?). Genova will probably want to avoid Spain from now on...

http://www.dailymail.co.uk/news/article-2120984/Spains-high-class-hooker...

Wed, 03/28/2012 - 17:27 | 2298679 hangemhigh77
hangemhigh77's picture

Geez this bitch is gonna put everyome to sleep. Who's next a life insurance salesman. i bet she's a drag between the sheets.

Wed, 03/28/2012 - 17:28 | 2298684 Ralph Spoilsport
Ralph Spoilsport's picture

She's an early adopter of battery powered dildoes.

Wed, 03/28/2012 - 17:28 | 2298680 meetired
meetired's picture

Wish they would label those empty chairs with readable R and D.

Just for shits and giggles.

Wed, 03/28/2012 - 17:29 | 2298685 hangemhigh77
hangemhigh77's picture

Look at the cow behind this bitch. She's uglier than a mud fece

Wed, 03/28/2012 - 17:32 | 2298695 Ralph Spoilsport
Ralph Spoilsport's picture

Central Casting? We need more lesbians for the second panel!

Wed, 03/28/2012 - 17:33 | 2298703 Watts_D_Matter
Watts_D_Matter's picture

she qualifes for the definition of a cock wearing masculine female

Wed, 03/28/2012 - 17:30 | 2298687 hangemhigh77
hangemhigh77's picture

who should we hate more the asshole brokers or the cocksucking politicians? Where's a terrorist with a bazoka when you need him?

Wed, 03/28/2012 - 17:33 | 2298699 meetired
meetired's picture

The one you are seeking is stuck in TSA for having 4 oz of shampoo in his bag.

Wed, 03/28/2012 - 17:30 | 2298689 meetired
meetired's picture

FASB rules applied properly?  Are you kidding me?

MtF, bitches!

Wed, 03/28/2012 - 17:32 | 2298692 hangemhigh77
hangemhigh77's picture

I wonder if you're in the gallery if it would be acceptable to stand up and yell, "FUCK ALL OF YOU ASSHOLES". I bet they would thank you.  

Wed, 03/28/2012 - 17:34 | 2298707 meetired
meetired's picture

No, outbursts from the peanut gallery are subject to 5 yrs in Attica and inclusion on the no-fly list.

Wed, 03/28/2012 - 17:43 | 2298742 lotsoffun
lotsoffun's picture

no hoodies today, ok?

 

Wed, 03/28/2012 - 17:32 | 2298694 hangemhigh77
hangemhigh77's picture

look at the ugly bitch behind her falling asleep

Wed, 03/28/2012 - 17:33 | 2298700 Ralph Spoilsport
Ralph Spoilsport's picture

She ain't ugly, she's Fugly!

Wed, 03/28/2012 - 17:32 | 2298698 hangemhigh77
hangemhigh77's picture

damn she is REALLY FUCKING UGLY!!!!

Wed, 03/28/2012 - 17:33 | 2298701 optimator
optimator's picture

Don't understand the answer?  Well, I didn't understand the question, and I bet you can't repeat that question.

Wed, 03/28/2012 - 17:34 | 2298702 hangemhigh77
hangemhigh77's picture

I would expect you to EAT SHIT SENATOR

Wed, 03/28/2012 - 17:37 | 2298717 meetired
meetired's picture

Believe this is the wrong House, isn't it?  The other C-SPAN covers the Dem hangout.

Wed, 03/28/2012 - 17:34 | 2298706 hangemhigh77
hangemhigh77's picture

Holy shit the guy's hitting on the troll!!

Wed, 03/28/2012 - 17:35 | 2298708 hangemhigh77
hangemhigh77's picture

What is this a fugly contest???

Wed, 03/28/2012 - 17:35 | 2298711 Overflow-admin
Overflow-admin's picture

Would you let your friend A relend to B just for a day or two? JPM: Surely not! Big smiles in the back, they got the money.

Wed, 03/28/2012 - 17:48 | 2298763 blu
blu's picture

Whoever makes a youtube of this shit needs to add the text "They got the money" with an arrow pointing to the smiling fuckers in the back. Have that show up ever time the smarmy bastards are shown grinning.

"They got the money" ------->

History needs to fucking record this. Fucking everyone needs to understand WHO GOT THE MONEY.

Wed, 03/28/2012 - 18:35 | 2298937 Overflow-admin
Overflow-admin's picture

I'm on it, you're welcome also if you have some skill in video making; especially if there is any pro reading me, please contact me legionnetworkch [at] gmail [dot] com. Because... video making isn't at all my background, it will take some time to produce something like a good 10min cut with some basic effects (at least I have good hardware to process the videos). If you do so your creativity is welcome, open a youtube account and help flood the world with free information.

Wed, 03/28/2012 - 17:35 | 2298712 hangemhigh77
hangemhigh77's picture

What the fuck IS that???  That's why Monsanto should be shut down. look at that thing.

Wed, 03/28/2012 - 18:38 | 2298943 Overflow-admin
Overflow-admin's picture

ROFLMAO!!! You are what you eat -> eat organic (bio for europeans) food or you know whats coming for you and/or later generations.

Wed, 03/28/2012 - 17:36 | 2298714 Xibalba
Xibalba's picture

Where's JPM's actual General Counsel, Stephen Cutler???

Wed, 03/28/2012 - 17:36 | 2298715 DCon
DCon's picture

Genova was much funnier when acting in Seinfeld.

 

 

Wed, 03/28/2012 - 17:37 | 2298718 hangemhigh77
hangemhigh77's picture

How do ASSHOLES like this get elected???

Wed, 03/28/2012 - 17:38 | 2298725 meetired
meetired's picture

Dumb bunnies.  They are found in most bars after midnight.

Wed, 03/28/2012 - 17:37 | 2298720 Watts_D_Matter
Watts_D_Matter's picture

The chick with gray hair behind Mr. Roth is sleeping...HILARIOUS!

Wed, 03/28/2012 - 18:39 | 2298947 Overflow-admin
Overflow-admin's picture

Didn't see, but I'll try to find her

Wed, 03/28/2012 - 17:38 | 2298723 hangemhigh77
hangemhigh77's picture

is that skelator behind this guy??

Wed, 03/28/2012 - 17:38 | 2298724 hangemhigh77
hangemhigh77's picture

do you have to be butt fugly to get into this hearing?

Wed, 03/28/2012 - 17:39 | 2298730 meetired
meetired's picture

No, just to post.

Wed, 03/28/2012 - 17:39 | 2298728 DCon
DCon's picture

200 - 50 = 50?

 

eh?

 

Wed, 03/28/2012 - 17:39 | 2298729 hangemhigh77
hangemhigh77's picture

are you aware of where your asshole is? I doubt it

Wed, 03/28/2012 - 17:39 | 2298731 hangemhigh77
hangemhigh77's picture

are you aware of where your asshole is? I doubt it

Wed, 03/28/2012 - 17:40 | 2298732 hangemhigh77
hangemhigh77's picture

there are definetly HOLES in the current system you assHOLE

Wed, 03/28/2012 - 17:41 | 2298734 hangemhigh77
hangemhigh77's picture

I bet this guy is wearing pink fairy boots

Wed, 03/28/2012 - 17:43 | 2298737 Dre4dwolf
Dre4dwolf's picture

Lol their services make no sense, no wonder the company went under.

 

I mean its really quite clear cut to me.

 

Who lost money that shouldn't of?

Who has money who shouldnt?

 

Money doesn't "vanish", there is always a count.

Wed, 03/28/2012 - 17:42 | 2298738 hangemhigh77
hangemhigh77's picture

I doubt this guy could get anymore than six inches in his mouth.

Wed, 03/28/2012 - 17:43 | 2298741 optimator
optimator's picture

He's putting me to sleep!

Wed, 03/28/2012 - 17:45 | 2298744 meetired
meetired's picture

Cumon, what is $1.6 billion among whores?

Just tax this crap, and call the budget balanced.

Kerry would.

Wed, 03/28/2012 - 17:44 | 2298745 hangemhigh77
hangemhigh77's picture

What is that THING sitting behind this bitch!!  Geez that is friggin SCARY SHIT!!!

Wed, 03/28/2012 - 17:44 | 2298748 hangemhigh77
hangemhigh77's picture

It's Jason without the mask

Wed, 03/28/2012 - 17:44 | 2298749 Xibalba
Xibalba's picture

"Why are we worried about little farmers anyways"???  

 

 

 

Wed, 03/28/2012 - 17:47 | 2298753 meetired
meetired's picture

Exactly.  Food comes from Jeeves.

I don't understand all the fuss.

Thu, 03/29/2012 - 08:32 | 2300124 Money 4 Nothing
Money 4 Nothing's picture

Read S510 or S511 and it's explained there. To close down any competition that is private for a more preferable Govt. big Corp. growers. Our families Farm is going through Federal hoops right now. It may not pay for us to farm this season becuase of these new mandates.

We have always had a profitable farm for 20 years, My father has been tracking a slow but predictable % of loss over the past 5 years not because a decline of revenue per se, it's the additional Fed - State taxes, inspections compounded with a use acreage regulation and required equipment sucking the private industry dry. They call it "Federal Food Standards".

I would hazzard to guess, the private farmer will be forced out of their livelihood within 2 years or less?   

Wed, 03/28/2012 - 17:45 | 2298751 hangemhigh77
hangemhigh77's picture

Did this guy say he's going to expose himself?

Wed, 03/28/2012 - 17:46 | 2298754 hangemhigh77
hangemhigh77's picture

I don't think this guy knows much about jack shit. I wonder if he can even wipe his own ass.

Wed, 03/28/2012 - 17:46 | 2298755 Xibalba
Xibalba's picture

Is she wearing an earpiece?  

Wed, 03/28/2012 - 17:47 | 2298760 meetired
meetired's picture

Hair. 

Wed, 03/28/2012 - 17:47 | 2298759 hangemhigh77
hangemhigh77's picture

WTF is this IDIOT talking about??  It's a battle of wits between two unarmed opponents.

Wed, 03/28/2012 - 17:48 | 2298766 meetired
meetired's picture

I would like to take this opportunity to thank you for making me look good.

Wed, 03/28/2012 - 17:48 | 2298762 hangemhigh77
hangemhigh77's picture

HOLY SHIT.  They should warn you before they put the camera on this THING. I just spit my coffe out my nose.

Wed, 03/28/2012 - 17:49 | 2298767 hangemhigh77
hangemhigh77's picture

Do they allow her to walk around in public?

Wed, 03/28/2012 - 17:49 | 2298768 Ralph Spoilsport
Ralph Spoilsport's picture

It must be hotter than a popcorn fart in that room. Everybody is sweating.

Wed, 03/28/2012 - 17:49 | 2298773 hangemhigh77
hangemhigh77's picture

Miss Furberger? Wow, I wondwr if Pussy Galore works at JPM too

Wed, 03/28/2012 - 17:50 | 2298774 Ralph Spoilsport
Ralph Spoilsport's picture

She gave me "oral assurances". Is that what they call carpet munching now?

Wed, 03/28/2012 - 17:51 | 2298779 gimli
gimli's picture

Someone gave her oral assurances? ........................ yuk...........

Wed, 03/28/2012 - 20:55 | 2299228 realitybiter
realitybiter's picture

It's bad enough that JPM stole my money.  Now, they are taking my libido, too.

<sigh>

Jeezus.  Talk about hiring somebody you never have to worry about getting drunk and making a mistake.  My gawd.  

Wed, 03/28/2012 - 17:50 | 2298781 hangemhigh77
hangemhigh77's picture

Dodd Frank bill? aka, Laurel and Hardy bill

Wed, 03/28/2012 - 17:53 | 2298787 hangemhigh77
hangemhigh77's picture

I'm so glad they're all having so much fun. FUCK THEM!!  Someone should take a fucking flame thrower to the whole fucking building.

Wed, 03/28/2012 - 17:53 | 2298788 Xibalba
Xibalba's picture

Mr. Genova?  

Wed, 03/28/2012 - 18:23 | 2298898 Waterfallsparkles
Waterfallsparkles's picture

I caught that too.  Freudian slip I think.

Wed, 03/28/2012 - 17:54 | 2298791 hangemhigh77
hangemhigh77's picture

Good GOD!! WHAT IS THAT!!!!???

Wed, 03/28/2012 - 17:54 | 2298793 hangemhigh77
hangemhigh77's picture

she was unavailable for meetings on the 31'st because she was out trick or treating. Someone should tell her to take off the monster mask now Halloween is over

Wed, 03/28/2012 - 17:55 | 2298796 hangemhigh77
hangemhigh77's picture

Look at the NOSE on this thing. IT'S ALIVE!!!!!!!!!!!

Wed, 03/28/2012 - 18:01 | 2298825 lotsoffun
lotsoffun's picture

the cosper one is actually ok.  but then again i'm old.  my expectations are low.

 

Wed, 03/28/2012 - 17:57 | 2298802 Xibalba
Xibalba's picture

Softball game is over.  Bankers win 2-0

Wed, 03/28/2012 - 17:57 | 2298804 optimator
optimator's picture

Last one at the bar picks up the taaaaaaaaaaaab!

Wed, 03/28/2012 - 17:58 | 2298805 meetired
meetired's picture

TG, it's over.  Really missed Bwaney Fwank spitting over the mic, but wrong committee.

Wed, 03/28/2012 - 17:58 | 2298806 hangemhigh77
hangemhigh77's picture

Important meeting? Ha it's a FUCKING JOKE!!!

Wed, 03/28/2012 - 17:58 | 2298807 Ralph Spoilsport
Ralph Spoilsport's picture

"This was an important hearing". Too bad nothing of value was disclosed.

 

Go the fuck home now you worthless shitbags. Wadda waste of time.

Wed, 03/28/2012 - 18:00 | 2298813 Dre4dwolf
Dre4dwolf's picture

SO all that happened is, we came to the conclusion that "someone took money out that shouldn't have been taken out".

 

LOL WHAT A CIRCLE JERK.

Completely pointless meeting.

 

LOL like we didn't know that "someone took someone elses money".

 

THE QUESTION WAS WHO, NOT WHAT.

Wed, 03/28/2012 - 18:01 | 2298816 Goldtoothchimp09
Goldtoothchimp09's picture

What a Clusterfuck  --  they tell you it's a segregated account -- but the funds are co-mingled.  It's NOT SEGREGATED - IT'S A LIE - IT'S THAT SIMPLE!!!

"segregated account" therefore - is a 'marketing term' a 'sales pitch'    A LIE !!!

Wed, 03/28/2012 - 18:02 | 2298827 Dre4dwolf
Dre4dwolf's picture

Its a conglomerated segregated account, kinda like throwing oil and water into the same bottle, the oil floats ontop of the water but its in the same container.

^^

 

Except there was no oil, no water just cash lots of it.... and JP Morgan smelled the cash. . .  like a shark in water who smells blood...

 

Its obvious to me who the criminal is.... its JP Morgan. . . they knew shit was going down and they hot swapped the bag full of cash for the bag full of losses.

 

 

Wed, 03/28/2012 - 18:14 | 2298867 Goldtoothchimp09
Goldtoothchimp09's picture

i hear ya -- to conglomerate means to roll together... to mix various parts -- it's a complete contradiction to say "conglomerated segregated account" -- the segregated part, therefore, is a marketing term to conceal a LIE !!!

Wed, 03/28/2012 - 19:02 | 2298842 Goldtoothchimp09
Goldtoothchimp09's picture

Take it a step further.... these so-called accounting rules aren't rules...they serve the purpose of giving the impression of soundness and safety - when in fact, they serve to allow co-mingling of so-called segregated funds...

The 'rules' themselves are gimmicks, sales pitches, marketing slogans -- the rules themselves are LIES !!!!

Affected customers should sue on this basis -- they were marketed to fraudulently - promises of segretated account safety.  If it's not simple fraud i don't know what is!  Sue the entire fucking industry that allows the marketing term "segregated account" to be used in literature and promotion.

Wed, 03/28/2012 - 18:04 | 2298836 Benjamin Glutton
Benjamin Glutton's picture

You have been Repo'ed....next!

Wed, 03/28/2012 - 18:19 | 2298885 Waterfallsparkles
Waterfallsparkles's picture

Maybe America should have a hearing with all of the Congress People as witnesses and ask them where is our Money.

Wed, 03/28/2012 - 22:07 | 2299367 Dre4dwolf
Dre4dwolf's picture

U.S. has a problem? NO You gave the U.S. Govt the money, YOU HAVE A PROBLEM lol

Wed, 03/28/2012 - 18:32 | 2298917 noob
noob's picture

was this supposed to be serious?
<wipes tear from eye>

 

Wed, 03/28/2012 - 19:32 | 2299080 sessinpo
sessinpo's picture

I found it interesting that the Henri Steenkamp, MF Global Chief Financial Officer, said that he had about a 71 average in his academic career. 71 is barely a C average, yet he is a top executive for MF Global. Me thinks he was put there just prior to the collapse on purpose. Anyway, I watched most of the hearing and it was the usual game show. "Sir, I can't recall the specifics, I was not responsible for that and don't know who was, blah blah blah." One person was dismissed almost immediately because she was invoking her 5th amendment right so they kicked her out.

Wed, 03/28/2012 - 21:27 | 2299283 Dre4dwolf
Dre4dwolf's picture

Our Government is such a joke, how is the future generation supposed to take our govt seriously?

Its just a 3 ring circus, no one in govt is even qualified to be there, they lack almost ALL the skill-sets you would want in a leader.

--------

There is no rule of law when it comes to corporations who through fraudulant courts have gained the rights and protections of "persons" under the law, yet escape ALL the accountability and responsibility of the status as person.

 

A corporation is a "person" under law.

You are a "person" under law , or rather you "have a person/identification".... *(because you aren't a piece of paper/plastic).

 

Under the law there is no difference between a corporation and a person.

 

Yet if a corporation commits a crime, no one goes to jail.

If you commit a crime as a "person" you go to jail.

 

How is this system fair and just? where is the accountability? there is no rule of law... rule of law has completely broken down because of these criminal bankers.... and our good for nothing POS govt that cant do one god-damned thing correct.

Wed, 03/28/2012 - 22:46 | 2299440 G-R-U-N-T
G-R-U-N-T's picture

If you want to laugh your ass off while yanking your hair out of your head watch Maxine Waters questioning the three witnesses from MF Global Laurie Ferber, General Counsel for MF Global; Henri Steenkamp, MF Global Chief Financial Officer; and Christine Serwinski, Chief Financial Officer for MF Global North America.

About 1 hour 13 minutes into this segment...

http://www.c-span.org/Events/Former-MF-Global-Executives-Testify-About-F...

Here's a woman who displays a level of financial density that I haven't seen before...Ugh!

 

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