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Watch Corzine's MF Global Testimony Live

Tyler Durden's picture


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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Thu, 12/08/2011 - 11:38 | 1958630 Libertarian777
Libertarian777's picture

Other than political corruption, there is no way he cannot go to jail.

If he admits to it it's theft and jail time.
If he denies it as he is now, then he did not fulfill his fiduciary role to shareholders. There is no chance in hell he can claim that he didn't know what was going on. If a CEO of any company doesn't know when a billion in cash moves he is being grossly incompetant. Did he not monitor the leverage and risk levels or the exposure to euro debt? Or the funding and liquidity needs? If he did he would have seen the liquidity shortfall approach, if he didn't he was negligent and a class action lawsuit should follow.

Thu, 12/08/2011 - 12:47 | 1958985 NotApplicable
NotApplicable's picture

"Political corruption" is redundant.

Thu, 12/08/2011 - 11:38 | 1958631 hangemhigh77
hangemhigh77's picture

Nope we don't know nuttin' we ain't seen nuttin'  

Thu, 12/08/2011 - 11:38 | 1958634 realitybiter
realitybiter's picture

"O" J Corzine


if you don't know shit, you gots to acquit.

Thu, 12/08/2011 - 12:47 | 1958991 NotApplicable
NotApplicable's picture

If Jon can shine, there'll be no fine.

Thu, 12/08/2011 - 11:39 | 1958637 Kina
Kina's picture

The corrupt protect the corrupt. Simple.

Politicians are owned by the bankster class. Regulators and officials are appointed by bankster's proxies, politicians.

Its all very neat and tidy. This is why the CFTC has no fear in being as criminally negligent as it wants. Who is going to investigate them? More bankster employees?


One can only hope they all meet madam guillotine after the next civil war.



Thu, 12/08/2011 - 12:50 | 1958999 NotApplicable
NotApplicable's picture

Criminally negligent? Why in government entities, there is simply no such thing. There is only a "lack of manpower."

Just ask any of them.

Thu, 12/08/2011 - 11:40 | 1958639 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Oooh, it is tooooo complex.


HEY LOOK, pretty buttons, ooooh.

Thu, 12/08/2011 - 11:40 | 1958640 stopcpdotcom
stopcpdotcom's picture

The cluelessness of some of these people is mind boggling.

Thu, 12/08/2011 - 11:41 | 1958645 hangemhigh77
hangemhigh77's picture

Breaktime.  Yahoooooooooooo BJ's for everyone!!!  Party!!!

Thu, 12/08/2011 - 11:44 | 1958657 bigdumbnugly
bigdumbnugly's picture

it is a little disconcerting that during the break things resemble an uppity class reunion...

Thu, 12/08/2011 - 11:56 | 1958709 Oro
Oro's picture

Agree, I was thinking the same thing. 

Thu, 12/08/2011 - 11:46 | 1958655 indio007
indio007's picture

It's too complex to know that a trasaction went from point A to B. Unless MF Global is doing 1 billion trades a day, they should have figured it out by now. How stupid do these people think we are? They act like the crap isn't computerized and the are looking at reciepts by hand.


Another BS whitewash....


BTW how's your vacation Grassley you coward.

Thu, 12/08/2011 - 11:46 | 1958661 PulauHantu29
PulauHantu29's picture

Tracking funds is a problem for them?

100% BS. When I am off 1 cent in my credit union or credit card they find it...even if it is months ago....and these "regulators" have a hard time finding where Billions of dollars went?

Corzine claiming,"I have no idea?"

Thu, 12/08/2011 - 12:51 | 1959006 NotApplicable
NotApplicable's picture

Well, to be honest, he made sure Dimon didn't tell him.

Thu, 12/08/2011 - 11:46 | 1958662 Badabing
Badabing's picture

 re-hypothecation aanndd re-hypothecation aanndd re-hypothecation...................

Thu, 12/08/2011 - 11:50 | 1958675 DOT
DOT's picture

How about de-re-hypothication ?

Thu, 12/08/2011 - 11:50 | 1958669 Forgiven
Forgiven's picture

The rules are simple:  Drink whenever anyone replies.  "I do not (or don't) know (or "have any idea" or "recall" or "remember")."  You should be drunk in about 5 minutes.

Thu, 12/08/2011 - 12:10 | 1958780 indio007
indio007's picture

I did that during Olie North's Iran-Contra testimony and I'm still drunk. hic...

Thu, 12/08/2011 - 11:52 | 1958687 Sweet Chicken
Sweet Chicken's picture

Burn this mother fucker now!!!!!!!!!

Thu, 12/08/2011 - 11:53 | 1958689 tony bonn
tony bonn's picture

corzine bears a striking resemblance to bernankula...we may be looking at the next chairsatan of federal reserve.

Thu, 12/08/2011 - 11:55 | 1958700 Sizzurp
Sizzurp's picture

I'd like to see Gerald Celente given time to ask these witnesses a few questions, or maybe Ann Barnhardt.  That would be worth watching.

Thu, 12/08/2011 - 12:04 | 1958745 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Barnhardt for sure. She could have her pink AR laying across her lap and a pair of needle nose pliars in one hand calmly and methodically tapping them into the other hand.


Thu, 12/08/2011 - 11:58 | 1958715 marcusfenix
marcusfenix's picture

come on he knows where the money went, it's stashed right along side that 2 trillion the Pentagram doesn't have receipts for and can't remember spending back in sept 2001, after which the accounting and finical records wing was conveniently hit by an air plane...

the guy needs to change his testimony "I don't know" is just stupid and going to get him lynched. "I can't tell you because they will kill me if I do" now that's got some weight to it.

"losing" vast sums of money, in the public and private sector, seems to be all the rage nowadays doesn't it?

things that make you go hmmm...

Thu, 12/08/2011 - 12:01 | 1958731 Cheeky Bitch
Cheeky Bitch's picture

Andy Cohen of Bravo will be chatting with Corzine on see what happen's after the show! -- Also joining him will be Real Housewife's of New Jersey.

Thu, 12/08/2011 - 12:02 | 1958733 hangemhigh77
hangemhigh77's picture

Who's next for a BJ????????

Thu, 12/08/2011 - 12:02 | 1958734 Smiddywesson
Smiddywesson's picture

Hypothecation allow them to legally use customers funds to gamble.  They all do it.  Even more scary is they are allowed to use the same collateral over and over again.  The whole system is brittle because of this.  When given the opportunity of declaring bankruptcy or doubling down with your money, what do you think these vermin will do?

Interactive Brokers uses this vehicle, as do many of the largest banks

ThompsonReuters article:

Thu, 12/08/2011 - 12:53 | 1959014 NotApplicable
NotApplicable's picture

All your capital are belong to us.

Thu, 12/08/2011 - 12:03 | 1958737 DOT
DOT's picture

If I may suggest, using you keyboard to bash the monitor will only make you feel better for a second, just keep drinking.

Since it is still AM here I am having some fun with Mayan Coffee.

Thu, 12/08/2011 - 12:13 | 1958795 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Captain straight up myself. I should be a blogging nightmare by about 3 pm. Will go over to Ace of Spades HQ and read the comments and bust a gut laughing my arse off. They do have the best jokes on the blogroll, IMO.

Thu, 12/08/2011 - 12:06 | 1958748 Cone of Uncertainty
Cone of Uncertainty's picture

Corzine is "shocked!"

Yeah you fucking piece of shit, you're going to be "shocked' all right when Bubba gives you your first taste of prison shower life.

Thu, 12/08/2011 - 12:15 | 1958799 dwdollar
dwdollar's picture

Keep dreaming. That's not how the system works.

Thu, 12/08/2011 - 12:06 | 1958754 hangemhigh77
hangemhigh77's picture

Cockzine is getting ready to act.  Thank you Mr.l Cockzine for showing up.  Thank you sir. yes thank everyone and thank you again Mr. Cockzine. Thank you sir and thank all you other sirs. Thank you and thank you again and thank you. Did I thank you?  Thank you.  Yes thank you too. Thank you for robbing everyone Mr Cockzine. Thank you no thank you ok thank you for thanking me so thank you.

Thu, 12/08/2011 - 12:07 | 1958756 hangemhigh77
hangemhigh77's picture

Ms. Sommers is almost done blowing the last Senatraitor.

Thu, 12/08/2011 - 12:08 | 1958763 hangemhigh77
hangemhigh77's picture

Who's the fat bitch standing there?

Thu, 12/08/2011 - 12:09 | 1958768 hangemhigh77
hangemhigh77's picture

The guy with the green coat is trying to get her to blow him.  Come on bitch u wanna get promoted or not??

Thu, 12/08/2011 - 12:09 | 1958769 yogibear
yogibear's picture

Dog and pony show. Scripted and practiced for the public.

Thu, 12/08/2011 - 12:10 | 1958776 hangemhigh77
hangemhigh77's picture

It looks like a few new senatraitors are waiting for their BJ so Sommers may need more time.

Thu, 12/08/2011 - 12:11 | 1958784 hangemhigh77
hangemhigh77's picture

The guy just walked by with sommers rinse cup

Thu, 12/08/2011 - 12:12 | 1958788 hangemhigh77
hangemhigh77's picture

Oh now the fat bitch wants this other guy to take pictures of her blowing the guy in the green coat

Thu, 12/08/2011 - 12:17 | 1958805 hangemhigh77
hangemhigh77's picture

Geez how many senatraitors is sommers gonna do?  She's taking forever.

Thu, 12/08/2011 - 12:17 | 1958809 hangemhigh77
hangemhigh77's picture

Does this woman know her fat ass is being broadcast nationwide?

Thu, 12/08/2011 - 12:19 | 1958810 Hobbleknee
Hobbleknee's picture

Who's the milf in the black skirt?

Thu, 12/08/2011 - 12:23 | 1958838 hangemhigh77
hangemhigh77's picture

Where's Cockzine??

Thu, 12/08/2011 - 12:25 | 1958848 GoldenGal
GoldenGal's picture

Is gold still a good idea? The way they manipulate the markets they could say it is worth 100.00 an oz...It's tanking right now

Thu, 12/08/2011 - 12:30 | 1958874 jomama
jomama's picture

does a bear shit in the woods?

(pun intended)

Thu, 12/08/2011 - 12:25 | 1958849 hangemhigh77
hangemhigh77's picture

Do the trumpets sound when Cockzine arrives?  They'll be 20 minutes of thank you's.

Thu, 12/08/2011 - 12:26 | 1958855 hangemhigh77
hangemhigh77's picture

All hail Jon Cockzine, the thief from Jersey.

Thu, 12/08/2011 - 12:30 | 1958876 Seasmoke
Seasmoke's picture

no that motherfucker is from illinois

Thu, 12/08/2011 - 12:26 | 1958858 Ralph Spoilsport
Ralph Spoilsport's picture

Fer crissake bring on the head cocksucker already!!!

Thu, 12/08/2011 - 12:30 | 1958879 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Breach, mistake, this, that.



Thu, 12/08/2011 - 12:33 | 1958890 haskelslocal
haskelslocal's picture

Go get um tiger. Rule 1.25

Thu, 12/08/2011 - 12:32 | 1958885 hangemhigh77
hangemhigh77's picture

Cockzine is the banksters hero

Thu, 12/08/2011 - 12:33 | 1958886 eBuddha
eBuddha's picture

let's play a new game




Thu, 12/08/2011 - 12:55 | 1959024 NotApplicable
NotApplicable's picture

My guess is special assignment.

Thu, 12/08/2011 - 12:33 | 1958887 Oro
Oro's picture

Go for it.  I like this guy!

Thu, 12/08/2011 - 12:33 | 1958893 John McCloy
John McCloy's picture

I did not realize Gensler left the country. These raindrop walkers obviously make their own rules.

Thu, 12/08/2011 - 12:33 | 1958894 hangemhigh77
hangemhigh77's picture

Who's the spook?

Thu, 12/08/2011 - 12:35 | 1958902 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Asking some good questions ain't he?

Thu, 12/08/2011 - 12:34 | 1958896 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Say it, SAY IT, SAY IT!!!!!!!!!

Hmmmm, Goldman Sachs mentioned, are they beginning to see the light?


Hey, it would will all blow over and Corzine can become Treasurey Sec.

Life is good. Life is fair.


Thu, 12/08/2011 - 12:34 | 1958897 yogibear
yogibear's picture

As a perk Corzine is paying for lunch with MF proceeds. Drinks for everyone. Going over questions and answers for this dog and pony show during lunch!

Thu, 12/08/2011 - 12:34 | 1958898 hangemhigh77
hangemhigh77's picture

The only thing this idiot has his hands around is his dic

Thu, 12/08/2011 - 12:34 | 1958899 DOT
DOT's picture

Regulatory capture ?

Thu, 12/08/2011 - 12:34 | 1958901 hangemhigh77
hangemhigh77's picture

More with this bitch?  Geez is that jiz on her bottom lip??

Thu, 12/08/2011 - 12:35 | 1958908 Oro
Oro's picture

The "delay"; watch this!

Thu, 12/08/2011 - 12:35 | 1958909 karzai_luver
karzai_luver's picture

gensler is a puke and a longstanding criminal.

Out of the country! That's rich!



Thu, 12/08/2011 - 12:36 | 1958911 hangemhigh77
hangemhigh77's picture

Maybe she didn't have time to blow this guy ir she doesn't blow blacks.

Thu, 12/08/2011 - 12:36 | 1958912 haskelslocal
haskelslocal's picture

Always a circus. "I have 5 minutes to ask you a question, it will take me 4 and you'll have a minute in return to clarify.

Thu, 12/08/2011 - 12:37 | 1958921 Seasmoke
Seasmoke's picture

why are wasting time and money on these 2 people........get the main criminal in the room

Thu, 12/08/2011 - 12:38 | 1958924 hangemhigh77
hangemhigh77's picture

Who GIVES A SHIT WHAT THIS BITCH THINKS!!!  GET GENNSLER AND HANG HIM!!!  These dipshit senatraitors are talking to some lackey.

Thu, 12/08/2011 - 12:38 | 1958927 Catullus
Catullus's picture

the fact that this guy is not in jail tells me a lot.

Thu, 12/08/2011 - 12:38 | 1958929 hangemhigh77
hangemhigh77's picture

His own firm was appointed by the judge, who's part of his firm, to be counsel.  How fortunate.

Thu, 12/08/2011 - 12:39 | 1958930 karzai_luver
karzai_luver's picture

When you look at the clowns that rep these regulators is it any wonder that the money be GONE.!?



Thu, 12/08/2011 - 12:39 | 1958931 XitSam
XitSam's picture

Find it funny that Reps take up most of their question time making self-serving position statements.

Thu, 12/08/2011 - 12:39 | 1958933 Dr. Engali
Dr. Engali's picture

For cripes sakes listen to this Cellar guy bend over backwards trying to protect Corzine and set the groundwork for yet another inept government agency.

Thu, 12/08/2011 - 12:40 | 1958934 hangemhigh77
hangemhigh77's picture

Important hearing? You mean a JOKE of a hearing.

Thu, 12/08/2011 - 16:15 | 1960199 11b40
11b40's picture

The most important thing is that enough people are watching this clown show.  Probably not.

Thu, 12/08/2011 - 12:40 | 1958935 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Yes, the people that were formally working for MF are investigating the MF Global corruption and criminal activity.

NO, NO, absolutely NO conflict of interest whatsover!?

Thu, 12/08/2011 - 12:40 | 1958936 Seasmoke
Seasmoke's picture

175 MF criminals hired to help ....sure they are going to help .........LOL

Thu, 12/08/2011 - 12:40 | 1958937 daxtonbrown
daxtonbrown's picture

If Corzine doesn't do the Perp Walk, who in te hell will? When trust completely evaporates, then there is no system to fail, the goose is already cooked.

Thu, 12/08/2011 - 12:57 | 1959034 NotApplicable
NotApplicable's picture

Some Indian guy that just made Jr. Partner.

Thu, 12/08/2011 - 12:42 | 1958940 yogibear
yogibear's picture

LOL-  Bankruptcy folks are former MF global people. This whole hearing is a circus. Corzine wrote the script.


Seems to be opening the doors for other Wall Street firms to steal more from their clients. Green light to steal from clients!!

Thu, 12/08/2011 - 12:40 | 1958941 LeZinc
LeZinc's picture

re-hypothecation !

Thu, 12/08/2011 - 12:41 | 1958942 Dr. Engali
Dr. Engali's picture

Schmidt you're a clown. You have no idea what a CDO is.

Thu, 12/08/2011 - 12:41 | 1958943 haskelslocal
haskelslocal's picture

He Said ReHyPothication! Yeah!

Thu, 12/08/2011 - 12:41 | 1958945 Oro
Oro's picture

Good luck

Thu, 12/08/2011 - 12:41 | 1958947 Ralph Spoilsport
Ralph Spoilsport's picture

Fucking Re-hypothication, how does that work?

Thu, 12/08/2011 - 12:43 | 1958963 LeZinc
LeZinc's picture

Oh, it's too complicated, we don't understand it. /sarc off

Thu, 12/08/2011 - 12:59 | 1959042 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

ooooohhhh, look..........pretty buttons!

Thu, 12/08/2011 - 12:46 | 1958981 Overflow-admin
Overflow-admin's picture


Re-hypotecation has same effects as caused by fractional reserve system but it's only increased leverage, the money is never created.

Thu, 12/08/2011 - 12:54 | 1959021 LeZinc
LeZinc's picture


Sarcasm is “a sharp, bitter, or cutting expression or remark; a bitter jibe or taunt.” [1] Though irony and understatement is usually the immediate context,[2] most authorities distinguish sarcasm from irony;[3] however, others argue that sarcasm may or often does involve irony[4] or employs ambivalence.[5]

Source: Wikipedia

Thu, 12/08/2011 - 12:41 | 1958950 azusgm
azusgm's picture

And we have a winner. The term "rehypothecation" is now in play.

Thu, 12/08/2011 - 12:42 | 1958951 Oro
Oro's picture

Good luck with that question: She and he have no idea! This is sick

Thu, 12/08/2011 - 12:42 | 1958953 hangemhigh77
hangemhigh77's picture

The "outcome" should be someone breaking your skull open.

Thu, 12/08/2011 - 12:42 | 1958955 RichardENixon
RichardENixon's picture

Hey this guy from Nebraska is actually asking some good questions. Better cut him off quick.

Thu, 12/08/2011 - 12:44 | 1958971 haskelslocal
haskelslocal's picture

When the bald dick says he has no idea how it works or who owns it, cut him off, say fuck you and get the lacky out of the room.

Thu, 12/08/2011 - 12:43 | 1958965 bullnutz
bullnutz's picture

Kobak: "175 Former employees from MF Global are now helping look at accounts for individual commodity claims!"

Thu, 12/08/2011 - 12:44 | 1958966 AndrewJacksonsGhost
AndrewJacksonsGhost's picture


Thu, 12/08/2011 - 12:44 | 1958968 hangemhigh77
hangemhigh77's picture

Why r they even talking to thius guy?  Who's next Donald Duck?  Sufferin suckatash senetraitor, is this bitch gonna blow da duck?

Thu, 12/08/2011 - 12:44 | 1958969 Ralph Spoilsport
Ralph Spoilsport's picture

A room full of slimebag lawyers swapping spit. What a spectacle. Need more cowbell.

Thu, 12/08/2011 - 12:44 | 1958970 Seasmoke
Seasmoke's picture

the douchebag doesnt even know who OWNED MF global !!!!!!!!!!!!!!!!!!!!!!!!

Thu, 12/08/2011 - 12:45 | 1958977 haskelslocal
haskelslocal's picture

GIve me 40 seconds to answer that question and I too can slosh marbles in my jaw.

Thu, 12/08/2011 - 12:44 | 1958973 JR
JR's picture

“The worldwide conspiracy for the overthrow of civilization and for the reconstruction of society,” as Winston Churchill put it, continues. In short, it’s universal revolution. Here’s Nate from today’s Nathan’s Economic Edge:

“Yet another late day rumor spiked the markets yesterday afternoon – I think the game here is very clear, the criminals who create money from nothing own the exchanges, and fuel the HFT machines are the ones who float these rumors. One hand on the HFT switch, the other pressing the ‘send’ button to initiate the BS du jour. The markets are completely not real; they are 100% fake…

“Of course Jon Corzine is a crook, he is a former head of Goldman Sachs, the former Governor of New Jersey, he is said to have ‘hired’ Bill Clinton’s lobbying firm to the tune of $50,000 per month, and is one of the largest contributors to Obama. Thus, despite being a criminal of historic proportions he still walks a free man. That is lawlessness that highlights the different set of laws that apply to the 1%."


Thu, 12/08/2011 - 12:58 | 1959038 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Spam? Really?

Thu, 12/08/2011 - 13:10 | 1959108 JR
JR's picture

Spam? No. Really? Yes. It’s time to take the blinders off.

Thu, 12/08/2011 - 12:45 | 1958974 hangemhigh77
hangemhigh77's picture

Thank you thank you thank you  STFU!!!

Thu, 12/08/2011 - 12:45 | 1958976 gmak
gmak's picture

WHo DOES own MF Global (the holding company)????

Thu, 12/08/2011 - 12:46 | 1958978 hangemhigh77
hangemhigh77's picture

Her reaction?  She would swallow immediately.

Thu, 12/08/2011 - 12:46 | 1958979 GrinandBearit
GrinandBearit's picture

This is such BS.  Where the fuck is Corzine?

Thu, 12/08/2011 - 12:46 | 1958983 The trend is yo...
The trend is your friend's picture

"no red flags for us" Sommers....CFTC only sees the black and white checkered flags

Thu, 12/08/2011 - 12:47 | 1958987 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

OOOOOHHHHHHH! I have an excellent follow up question to that. Since they are sending segragation reports to the CFTC and they are found to be fraudulent, could that be considered to be mail fraud?!

Of course we have monkeys up there that are only good at eating there own feces.

Thu, 12/08/2011 - 12:47 | 1958988 hangemhigh77
hangemhigh77's picture

What an IDIOT that guy was

Thu, 12/08/2011 - 12:48 | 1958993 Ralph Spoilsport
Ralph Spoilsport's picture

Yup. Mr. Kissell Ass-ell.

Thu, 12/08/2011 - 12:47 | 1958990 Mr_Wonderful
Mr_Wonderful's picture
The November FAO Food Price Index nearly unchanged from October
Release date: 08/12/2011

Thu, 12/08/2011 - 12:49 | 1958994 Oro
Oro's picture

The questions are getting better.

Thu, 12/08/2011 - 12:53 | 1959013 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Slightly better. Geez, I would like to have about 10 zero hedgies up there.

These folks don't even realize that stealing from customers is illegal! Frelling INSANE!!!!!

Thu, 12/08/2011 - 12:49 | 1958997 hangemhigh77
hangemhigh77's picture

Just throw all of them in jail and execute them.  This is just a bad friggin joke

Thu, 12/08/2011 - 12:50 | 1959002 Ralph Spoilsport
Ralph Spoilsport's picture

Oh noes! It turns out nobody regulates anybody because of loopholes.

Thu, 12/08/2011 - 12:50 | 1959003 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Let me attempt to frame what is going on, brothers and sisters are having sex and we are not going to call that incest?


Thu, 12/08/2011 - 12:51 | 1959004 hangemhigh77
hangemhigh77's picture

Organize the lynchmobs already. We need answers not MORE BULLSHIT!!!

Thu, 12/08/2011 - 12:52 | 1959007 Sizzurp
Sizzurp's picture

Sommers seems completely clueless.  Does she know anything? It's hard to imagine any of these people being effective against the interests of a powerful person like Corzine. 

Thu, 12/08/2011 - 13:06 | 1959077 Spastica Rex
Spastica Rex's picture

I've worked with people who appear as she does in public. Behind the scenes, these people vigorously advanced the interests of their patrons and ruthlessly quelled dissent among their inferiors.

Thu, 12/08/2011 - 12:52 | 1959008 Ralph Spoilsport
Ralph Spoilsport's picture

None of these interrogators are viscious enough to handle these crooks. Where's Judge Judy when you need her?

Thu, 12/08/2011 - 12:55 | 1959025 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

Pfft, I say we have to draft people like Ann Barnhardt and Mark Levin. Time for the Rethugs to appoint a special prosecutor and go after all of these frelling crooks before we have nothing left.

Thu, 12/08/2011 - 12:52 | 1959010 yogibear
yogibear's picture

Regulated by the SEC... LOL, their busy watching porn. Ah, Goldman sachs is in the background. Corzine says backoff. Goldman Sachs is pulling the strings.

Thu, 12/08/2011 - 13:18 | 1959192 sgt_doom
sgt_doom's picture

Top three subjects at SEC:

Alexis Texas

Nautica Thorn

Jada Fire

Thu, 12/08/2011 - 12:52 | 1959011 The trend is yo...
The trend is your friend's picture

"regulation 1.25 does not apply"

Wash. Rinse.Repeat

Thu, 12/08/2011 - 12:53 | 1959018 hangemhigh77
hangemhigh77's picture

Well THAT solves the problem then!!!  Ok everyone can go home now

Thu, 12/08/2011 - 12:54 | 1959019 Oro
Oro's picture

Who is the is guy? What skin does he have in this?

Thu, 12/08/2011 - 12:56 | 1959027 Ralph Spoilsport
Ralph Spoilsport's picture

Sounds like he has pitchfork and torch wielding farmers back home as constituents.

Thu, 12/08/2011 - 12:55 | 1959022 haskelslocal
haskelslocal's picture

Mr. Peters explaining how you can avoid regulation by changing your business model, proving that we've got seperate regulators for the soul purpose of avoiding regulations.

Thu, 12/08/2011 - 13:02 | 1959056 Oro
Oro's picture

Right on, very good summary!

Thu, 12/08/2011 - 12:55 | 1959023 hangemhigh77
hangemhigh77's picture

Gee is this highschool now?  Please raise your hand for questions and does anyone have to go wee wee?

Thu, 12/08/2011 - 12:56 | 1959029 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

I swear this is really getting close to the liberty tree.

Thu, 12/08/2011 - 12:56 | 1959028 hangemhigh77
hangemhigh77's picture

Oh boy everyone is having such a good time!!  Hahahahahahahahahahahaha  it's a fun time for all, except the poor slobs wholost their money.  Fuck them.

Thu, 12/08/2011 - 12:58 | 1959032 haskelslocal
haskelslocal's picture

Courtney... Yeah, he recused because a congressman forced him to. Or... He asked a congressman to ask him to. COURTNEY testimony is staged perfectly to blame everyone else! It's not them, it's us! Blame it on congress, budget cuts, resoruces.... GAWD!

Thu, 12/08/2011 - 12:57 | 1959033 Dr. Engali
Dr. Engali's picture

You're all guilty Courtney.

Thu, 12/08/2011 - 12:57 | 1959035 hangemhigh77
hangemhigh77's picture

This guy is trying to pick sommers up.

Thu, 12/08/2011 - 12:58 | 1959037 Ralph Spoilsport
Ralph Spoilsport's picture

This Courtney schmuck looks like he goes through a lotta kneepads.

Thu, 12/08/2011 - 13:00 | 1959049 A Man without Q...
A Man without Qualities's picture

Typical big government - he sees the problem is a lack of money for agencies, rather than the corrupt nexus between regulators and regulated..

Thu, 12/08/2011 - 12:59 | 1959040 hangemhigh77
hangemhigh77's picture

I'd like to refer to bil, "FUCK ALL OF YOU" and proceed straight to the hangings now.  Everybody line up, motherfuckers.

Thu, 12/08/2011 - 12:59 | 1959041 Seasmoke
Seasmoke's picture

someone in CT better knock Courtney the fuck out......this asshole is a joke

Thu, 12/08/2011 - 12:59 | 1959043 johansen
johansen's picture

"I have suggested that customer money be put in the hands of a third party, but i've been told if that happened then no one could make any money"



way to admit the whole system is a ponzi scheme.

Thu, 12/08/2011 - 13:00 | 1959044 Ralph Spoilsport
Ralph Spoilsport's picture

WTF?? Courtney is sympathizing with Sommer's agency.

Thu, 12/08/2011 - 13:00 | 1959045 GrinandBearit
GrinandBearit's picture

Courtney is apologizing for her?... WTF???  This dude is a gaping asshole licker.

Thu, 12/08/2011 - 13:00 | 1959046 haskelslocal
haskelslocal's picture

Don't you ever say edge-u-ka-bull again....

Thu, 12/08/2011 - 13:00 | 1959047 karzai_luver
karzai_luver's picture

SOMEONE tell me this..............


They keep saying Gensler should recuse NOw since he had worked with Corzine, WELP why did he not RECUSE himself and not talk to Corzine before now since he worked for/with the guy and was in a gvt position.

If Gensler was honest he would demand to tell his story NOW!


Thu, 12/08/2011 - 13:30 | 1959285 Bastiat
Bastiat's picture

An honest high level veteran of Goldman? 

Thu, 12/08/2011 - 13:00 | 1959048 hangemhigh77
hangemhigh77's picture

U don't have to identify yourself Sommers recognizes your dic.

Thu, 12/08/2011 - 13:02 | 1959057 AndrewJacksonsGhost
AndrewJacksonsGhost's picture

and and and and Dodd Frank bill do it's job.


HEY ASSHAT!!!!!!!!!!!!!!


You have laws on the fucking books to throw every fucking one of these people in jail.

They stole customer funds to cover their bets on an INSANE bet on EU debt.



Sorry about screaming, but what fucking morons elected these idiots. Sorry, they are idiots but whoever elected them are just plain earthworms!

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