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Watch Corzine's MF Global Testimony Live
Update: Corzine speaking now - drink a shot for every lie Corzine utters
And now the one we've all been waiting for...
As a reminder, his prepared remarks can be found here, and below is the witness sequence. The beginning will likely be boring. The main act is in the middle:
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
Live CSPAN webcast after the jump:
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Corzine: Always Be Closing....Always Be Closing....there, I'm ready....these disgusting sycophants will believe anything I tell them
Barnhardt put up the Dave Chappelle I plead the fifth vid. I imagine it will be pretty close to that.
By the way, someone should be arrested for co mingling the accounts. That right there is fiduciary malfeasance at the least. IMO
Where is the $1.2 Billion? And they will blame it on http://inkom.com.au/blog/explaining-european-debt-crisis
i am sure there is a lot more to this than merely that "small" sum of 1.2 B..............that is just the tip of the iceberg.....this thing may be bigger than aig.
Commissioner Summers - I saw her in the file "When Traders go Wild"!
Where's that little prick Gennsler? Oh conveniently recused himself so they sent some lackey bitch that has probably been instructed to blow the right people after the meeting.
Fif.....but mr. corzine, we are talking about billions that you were responisb...FIF...You cant serious....FIIIF...
SHUT THE FUCK UP BITCH !!!!!! JUST GET THE PEOPLE THEIR MONEY BACK
Did anyone drop an 'H' bomb yet? (say: hypthecation?)
And re-hypothecation
http://en.wikipedia.org/wiki/Hypothecation
I'm sure they probably pass this HO around the office for BJ's during break time everyday. She's probably a secretary. We "Understand"? Here's the fact, none of these assholes "understand" jack shit. The only way to MAKE them "understand" is to hang them all.
What's that on the side of the Chairman's head? Nicotine patch? I thought they go on your arm.
It's an ear suppository to help flush out the shit he is about to hear.
Really, So he broke the law.... Then why isn't he in a jumpsuit and handcuffs?
politics is who you know, not what you know
which is why everything back-slapping useless tossers in Govt touch turns to shit ...when Corzine says he doesn't know much his half-a-brain is only half kidding
Govt: the dumbest most corrupt institution in History
What's your name...I can't recall...where's your dick...I can't recall
How many fingers am I holding up?....I can't recall. I can't be responsible for all of the digits that are being held up in front of me and the interpretation of what a digit is or is not.
What do you mean by the phrase "holding up?" Like holding up a liquor store?
Watch pathalogical posturers (politicians) ask questions of a pathalogical liar (politician)
don't forget the irony here, Corzine is who the heads of the Democratic Party, President Bumma & VP Biden, called on for their 'economic stimilus' after Corzine ruined New Jersey as Governor. And no doubt as Goldman Sucks CEO Corzine also assisted Democrats with their insider trading deals
..so watch-out for pulled punches in this vacuous posturing clown show
Wait. I thought *we* were the ones that we have been waiting for.
Crap. What a disappointment.
They need to back the fucking trade out and give the money back to the 30,000 customers. I don't know where the money is at is bs.
a two-bit accountant could follow the money trail
instead we have a massively over-paid liquidator who is so fuking incompetent he doesn't know his arse from his elbow and gives wildly different figures one week to the next ...the entire system is a rotten farce
MF creditors will have to sue ...or just take some rope to the throat of the problem
enron took out arthur anderson. i am sure some big 8 accounting firms are going down for this one too. who was on the hook for this one? price waterhouse?
Yep. PWC going down the toilet on this one. Too bad. I'm an alum.
http://www.bloomberg.com/news/2011-11-03/mf-global-auditor-pricewaterhousecoopers-subpoenaed-for-client-fund-data.html
oh you know they will be sued into oblivion.........so kiss them goodbye...... how many are left after they die? being a big accounting firm is getting hazardous to corporate health especially when they have to sign off on bogus documents all the time, these days. but but but fasb said it was ok...yeh sure...........sure pal.............
The trustee is getting paid just short of $1000/hr for his bse hourly rate. It pays the be incapable to find answers in a timely manner.
Well according to her everything is just fine. She needs a bitch slap. Why r they talking to this retard? Oh, they're ALL retards. Now we have the schisters turn to talk.
Corzine: Nobody was hurt by this comingling situation more than me. I still haven't gotten my 2011 bonus bitchez!
oh they just put his bonus on ice over at the people's bank of israhole......
Blah, blah, blah and decide if we will prosecute any possible, blah, blah, blah. We will decide if we need to change any regulations, blah, blah, blah, blah.
Oh, it is illegal to co mingle accounts, but hey, we might need to create even more regs! This right here is rocket science folks! No doubt about it, SCIENCE!
We need a reset. Chose leaders by lot and decide disputes by combat.
Is this the lawyer that is billing $890 / hour?
Bring in Jesse Ventura to question Cockzine. Putt the prick in a headlock and make him tell the truth then hang the asshole.
We can have a fundraiser for the MFG customers, selling raffle tickets for who gets to go all WWE on his ass.
Corzine gets to play the role of Andy Kaufmann.
Hanging Jesse Ventura would solve nothing.
Master Magician Jon Corzine VANISHES billions of dollars! This guy's got sKiLZZZZ BITCHES!!!!!!!!!!
Put him in jail.
libertarian86.blogspot.com
Put him under the jail.
On permanent display, in a cage on the Washington Mall, where he is repeatedly asked questions regarding activities he or his fellow non citizen politician/corporations have undertaken, where everything is hidden, and who's its. We can set up a whole string of cells for interrogation where the people can get answers. It would take less time than an FOIA answer, provide more information, and the citizens can use water balloons in the winter and mirrors in the summer to keep the subjects from nodding off or forgetting the question. Very humane treatment to open a large window on government so the sun can shine in.
There is a lot these beings can tell us to justify claw backs for their ill gotten gains.
Will the panel be administering FINRA's waved examinations to Corzine today? Questions like....Jon, can you tell us what a balance sheet is?
Sorry that this post is off topic, but I need some help from the ZH community to decipher this puzzling notification (posted below). I just received the following from my bank with my November 2011 Statement of Account. Please help me to understand this- should I be concerned?
Notice to Interest Checking and Non-Interest Checking Accountholders
Effective immediately, the bank may make a change in your Checking Account that will not affect your available balance, interest earnings, FDIC insurance, or bank statement. This account will consist of a checking sub account and savings sub account. The bank may periodically transfer funds between these two sub accounts. On a sixth transfer during a calendar month, any funds in the savings sub account will be transferred back to the checking sub account. If your Account is a Product on which interest is paid, your interest calculation will remain the same. Otherwise the savings sub account will be non-interest bearing. The savings sub account will be governed by the rules governing our other savings accounts.
Run. Like. Hell.
"Dear Customer,
We need to shuffle money about to screw you over and cook our books.
Sincerely,
Banksters"
Reference the Wells Fargo story on ZH a couple of days ago; could be they are usnig sub-accounts to create overdraft charges.
Also sounds like they don't want you to make more than six transfers from checking to saving (?).
I would say change banks and tell your current bank that you don't like statements about your money that make no sense .
First thing is to check the link posted below, then if needed get in the car and race to the bank,
withddraw all the money from your accounts while screaming "Glass-Steagall, Glass-Steagall"
then scream "save me Tom Cruise, save me Oprah"
http://cr4re.com/PBL11182011.html
Unofficial Problem Bank List Nov 18, 2011 www.calculatedriskblog.com
he said "bank" hehe hehe heehehehe yeah, bank, he, hehe.
Seriously, get thee to a credit union and make sure they aren't MERS members (land theft by computer)
Senator Corzine?? Or Criminal Corizine friend of Obamas? Who the hell wants to listen to this scumbag or his scumbag attorneys?? They need to strip Corizine of all his personal assets and stick his ass in jail till his memory improves and he tells them where the money went.
Will they have to refer to him as Senator? That would be choice. Maybe Governor?
I think the use of a baseball bat here would be appropriate. The LAW??? Ahahahahahahahahaha R U KIDDING ME!! LAW? FOR WHO????
Albert Pujols is a Free Agent right now. I say the Senate Banking Committee calls his Agent soon to tender an offer.
One swing would do it. I'd watch that.
Not any more. He's with the angels now.
"Quickly as possible, quickly as possible..." what fucking horseshit. SHITSHOW!
Who monitors the segregation of the accounts?
She gulps than stutters. This is so pitiful.
Ummmmmm, gee did you hear the warning signs? Duhhhhhhhhh, what did they sound like? Ummmmmm, u know something like, WARNING WARNING WARNING COCKZINE IS ROBBING EVERYONE. Duhhhhhhhhhhhhhh, oh shit it THAT what that was? I had no idea, I was giving a BJ when that warning went off.
Let's legally pursue a baseball bat bashing in this schister's skull.
We rely on the banks telling us the truth.
Well might as well sign off and start drinking hard.
I'm starting early today. Frelling general still hasn't paid me for building a restaraunt over 60 days ago. Bastard! Telling me he hasn't recieved payment from the owner. Getting really sick of this economy!
" Other Sources " ==> taxpayers ?
a customer out in the countryside? Hmmmmmm, what about a customer in the city? He's SOL? These guys are FRIGGIN MORONS!!!!!!!!!!!!
a run on the banks? Oh gee counselor dope are there a lot of runs on banks going on?
DeLoit? Oh PROFESSIONAL accountant liars and thieves. Commissioner Sommers could u please beging the BJ's now?
"FM Global". The Chairman said, "FM Global" repeatedly.
AARRRRGGGGHHHHHH!!!!!
So screwed.
That way around, it stands for Fuck Me Global.
Sigh.
Bastards.
Accounting is a mess? So convenient if one is not interested in telling where the money is.
FM Global, MF Global ah what's the difference. HEY MORON, could you at least get the name of the firm right!
Cockzine was "stunned"? Yeah right after he snorted a line of prime coke.
Ohhhhhm, Ohhhhhmmmmm, Ohhhmmmmm, paging Andrew, Andrew.....is that you?
"All the rights secured to the citizens under the Constitution are worth nothing, and a mere bubble, except guaranteed to them by an independent and virtuous Judiciary."
"Elevate those guns a little lower." point them right at that table"I have always been afraid of banks."
"I weep for the liberty of my country when I see at this early day of its successful experiment that corruption has been imputed to many members of the House of Representatives, and the rights of the people have been bartered for promises of office."
"Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges... which are employed altogether for their benefit."
"Money is power, and in that government which pays all the public officers of the states will all political power be substantially concentrated."
"No one need think that the world can be ruled without blood. The civil sword shall and must be red and bloody.""Peace, above all things, is to be desired, but blood must sometimes be spilled to obtain it on equable and lasting terms."
"War is a blessing compared with national degradation."
Well THERE you go!
It is not like we don't know, or can't know. It has all been laid out for us in word and deed with precedents extensive.
To me this sums the current state of affairs. At thanksgiving a few weeks ago with family, a late night conversation regarding inflation, printing, business, PM's, was concluded with "I don't want to believe that."
The data was irrefutable, so it became "I don't want to..."
That my friends is why the big lie works.
Recipe for resolution is still the same, people have to wake up first...
Chairman keeps talking about FM Global not MF Global - I used to work for FM Global, it's not the same firm! I didn't take the money!
Law enforcement "investigations"? U mean COVERUPS going on.
FM Global plays a lot of Steeley Dan, it's a great station Mr. Chairman. Cockzine LOVES FM Global.
LOL
"I now recognize myself for five minutes."
How come the questions are so convenient! "I understand the paper work was a mess" What kind of "grilling" is that?
Violation of the act? Their going to "VIOLATE" your ass lady.
I can't stand to watch anymore. I'll have to wait for Tyler to summarize it for me. Thanks for all your hard work, T.
NORMAL COURSE OF BUSINESS?? Is there such a thing in the USA? Hopefully she'll look into that? SHE'S A WHORE. FIRE HER THEN KILL HER. Look into that senator dumbass.
Why doesn't this guy look into my asshole?
POTENTIAL for criminal prosecution? Ahahahahahahahahahahahaha
Hasn't the new Muppet Movie already been released to theaters?
Her UNDERSTANDING?? The only thing this whore understands is she has to swallow after she gives a BJ
Hey Mr Chairman why don't you recognize my ass?
Taken the funds without the customer authorization? Did this IDIOT just crawl out from under a rock? Hello? Hello? Anybody in there? Duhhhhhhhhhhhhhhhh
If you haven't read this article (ThompsonReuters) on MFGlobal and rehypothecation, you'd better, especially if you do business with Interactive Brokers. It is frightening.
http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/
In a world where finance becomes so leveraged, hidden from sight, corrupt, massive, and intricate (in other words, fragile), can the end lead to anything but complete and total systemic collapse? We are all standing in MF Global customer's shoes and don't even know it.
"Yes we worked together. Yes I was his boss. Yes we desperately needed cash to keep our business going. Yes I drove us to the liquor store. Yes I was in the car outside. No, I had no idea what he was doing while in the liquor store. I have not had a chance to look inside the bag he brought outside so I really can't tell you what happened."
Clearly the defendant is innocent and should be freed with an apology from the court.
Here's a rule for you MFer. The rule that soon the people are going to hang ALL you assholes under rule FUCK YOU.
I simply do not know where my soul is.
Theater for the slaughered.
http://www.youtube.com/watch?v=iUCDhvbQFmU
You ignorant SOB...A bank cannot use a customer's deposit as COLLATERAL, since it is a LIABILITY!
Well, they found a way around that, and they are all doing it. Which means, we are all standing on cracking ice.
ThompsonReuters article:
http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/
Hey Smiddy this from ZH last night
http://www.zerohedge.com/news/why-uk-trail-mf-global-collapse-may-have-apocalyptic-consequences-eurozone-canadian-banks-jeffe
Well, like, that's just your opinion, man.
The only thing this bitch knows about 2008 is that she gave so many BJ's she got promoted. The only thing this whore "looks at" are nine inch cocks.
This lady is so in over her head. What a disaster. How much do we pay for her incompetence?
Probably +100k at her level.
She's got to be Executive Schedule or Senior Executive Service level. $120k minimum, but probably $150-199k.
Hell, even GS-15s are hitting the $100k mark at a minimum, up to $129.5k. And there are a LOT of GS-15 jobs nowadays.
No recession in the DC area.
http://www.opm.gov/oca/11tables/html/ex.asp
http://www.fedjobs.com/pay/pay.html
So the money could have been lost? NO SHIT!! This guy is BRILLIANT!!! He's getting a BJ on the break
YES
NO
Q. Did the entity, MF Global, have a fiduciary responsibility in respect to maintaining the integrity of customer accounts ?
.
.
.
.
Yes or No
Yes/No questions? Those are easy to avoid.
"I'm sorry, but I object to the premise of the question. How could one possibly be expected to even define such a complex scenario, let alone be responsible for it? There are many variables involved that are outside of our control, and while we do our utmost to ensure quality service to our clients, we simply cannot be held responsible for these unfortunate events."
She's the CFTC scapegoat lackey. How often? I give BJ;s EVERYDAY.
They stole the money. Cut the crap and call it what it is.
Since we learned that waterboarding isn't torture....just an enhanced interrogation tactic.....let the water start flowing!
I'm wondering how many times the number 5 is used.
http://vegasxau.blogspot.com
2/3rds !
Here's a "number" for you counselor schister..... FUCK YOU
CSPAN - The new Comedy Channel.
I think a nice hard bat stroke into this pricks forehead would be appropriate.
Look at this guy!!! Did he just climb out of a dumpster?
I don't exactly know when he recused himself his cock was in my mouth at the time
yep 100% correct
He said something about finances, but I was on my back picking out a new color for the ceiling.
Go King !
this whore sommers is too stupid to even understand they're throwing her under the bus. if it walks like a duck talks like a duck...
Hey Peterson STFU!!!
'The House Agriculture Committee has subpoenaed former MF Global CEO Jon Corzine to testify on the bankruptcy of the financial firm and a dispute over $1.2 billion in missing funds.'???
“The Committee on Agriculture”...'The jurisdiction as presently defined in the Rules of the House of Representatives was made effective January 2, 1947, as a part of the Legislative Reorganization Act of 1946...' Read more here: http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/11_-_No...
The only reason I can see this before the Ag Committee is to stop cronie capitalism via special loans and subsidizing agriculture...This is highly unlikely, that can't be possible in this U.S. cronie capitalist economy!
WHY is this before the Ag Committee? Is this TPTB way to push this under the rug?
It is before the Ag committee because FCMs are relevant to ag futures.
thx. That's clear now.
Ag has a large lobby. It has the logistics to bring this to light. HOWEVER, as Tyler mentioned in another post, the CONgressmen are beholden to bankers first. Ag is somewhere further down on the list. This is a circus meant to appease the ag interests but to protect the bank interests. Politics at its finest.
Gennsler flew the coup. He's in Japan hanging out with ten midget concubines.
Don't knock it.
Her authority? Geee she has none she just blows people.
Whose asshole did that bitch lick to get that job ...
Until we know what a swap is? WTF? These people don't even know what they are regulating and how it operates???
SOP for goobermint types. Run into that allllllll the time with regulators.
Umm congressman I just blow people I don't know jack shit.
Go Senator.
Right on, where the FUCK is Gensler. He cannot be recused from questioning! He should be grilled!!!! He was running the fucking agency that was supposed to be regulating this firm. The regulators failed. Where the FUCK is the TOP MAN who was responsible. HUH!!!!!!!!!!!
Gensler is out of the country. Perfect.
Gensler ducks the questions and we hear from bimbo make up lady? WTF?
Get their money back? Ahahahahahahahaha that ain't NEVER gonna happen.
People are fed up with all the incestuous relationships between G$ and Governments around the world. Thieves, all of them.
ur well aware of the MILLIONS of PISSED OFF people now buying rope and pitchforks and looking for pricks like you?
Be fair. Let's wait to see what Corzine says first. Then hunt him down like a dog.
Does he have a seat belt on?
Who is this asshole? He's getting a BJ
Baca thinks the problem is the regulator didn't get enough funding so he's on the take.
Translation- Does the CFTC need more bribery money to cover up future problems? I think you are currently doing great work covering up criminal activities that Democrats like Corzine commit.
"I think your doing a good job"... WTF!!!!!!!!!!!!!!!
What is wrong with these fucks?!
Law enforcement is doing a good job? Yeah beating the shit out of OWS protesters and opening limo doors for the banksters.
They need practice for when they go after people with actual assets like you and me.
Is she a political appointee?
Does she have "knowledge" Ummmm NO
what kind of investments? Uhhhhhhhhhh, pigshit mostly
A well placed hellfire missle could solve all this shit. Get these assholes while they're all in one place. he thinks? Impossible.
See, this is why I don't like watching these things. I think we could appoint monkeys to these seats and by them flinging poo would be doing a better job. Oh well, I think I lost about 30 IQ points watching this so far. Uh, eh, uh eh, blah, eh uh.
Drink! Wake me when Corzine is pleading the fifth.
My god, this is sick!
losing position for you senatraitor? Impossible, you only trade on inside info. These pricks are trying to understand that people can actually LOSE money in the market. Something he's totally unfamiliar with.
The final, conclusive proof that the impossible has met the inevitable:
Amerika has entered its' fearful apotheosis = serial reruns of the most abject moments of it's trajectory toward corporatist cophrophilia! Time has died, replaced by a cartoonish twilight zone of surrealist imagery.
quick guide for dummies: Chairperson Gramm -Wendy Gramm, wife of Phil, "After leaving the CFTC in early 1992, Wendy Gramm accepted lucrative directorships on the boards of several corporations she had regulated." played now by: Mary Shapiro
Larry Romrell - front man&fall guy for money laundering scam with a [do not go to jail]ticket endorsed by highest power in the land. played now by: Jon Corzine.
"Kerry Fox" - straw man character inserted by the Elizabethan author(purportedly John Dee) to provide the necessary cabbalist symbology of warning to the intended victims...Fox, Kerry, fox in the henhouse...in house joke amongst the cast and audience!
excerpts from: http://www.american-buddha.com/bcci.affair.21.1.htm
" an account owned and controlled by Z.A. Akbar. "
As in Admiral Akbar.....holy shit...this surreal...and in all probability just as belieavable.
i vote Jaja Binks for CTFC president...and then Goldman Sax's Chairman.
Not US pres. cos thats just a lower level management positon
Admiral Akbar got caught in a trap. No wonder we are screwed.
Did anyone ask at this point whether the risk manager for MF Global appraised the CFTC of irregularities?
Cockzine is getting a BJ in the green room waiting to come on and perform. It's all just a show.
He might just as well have said "My dog ate my customer's money". I would have believed that.
Apparently, the CFTC Information (Fraud) Reporting Form is broken:
https://www.cftc.gov/ConsumerProtection/RedressReparations/InformationRe...
It might work for you, ask where Gensler is.
I wonder if it isn't overloaded by people sending in angry notes, like mine.
I made it into a PDF and emailed it to the Webmaster.
Crooks! Thieves!
NO TRUST!