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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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...well, the honorable is back:
http://www.c-span.org/Events/Corzine-Testifies-in-MF-Global-Investigatio...
The biggest joke of all:
THE NAME TAG: THE HONORABLE JON CORZINE
Stress the honorable
LOL!!!!!
The longer it takes someone to answer a simple yes/no question, the more likely it is a lie.
I am still waiting for the question to be posed ( would someone please hand the guy questioning JC the following cue card):
Mr. Corzine, did MF Global pledge assests from customer accounts to secure loans for MF Global from third party lenders?
That's an easy one. Ahem-
I don't have access to those files, these are complicated things handled by a whole team of experts, I wouldn't want to insult the intelligence of this fine comittee by speculating.
"Since when is it illegal for CEOs to steal?"
We live in a new culture of vultures.
Remember folks- as long as you don't 'intend' for your daughter to get raped by your pedophile cousin Ralph when you leave them alone in a locked basement for 3 hours, you can walk away with a clear conscience.
The Diet of Worms, quit literally.
This guy is being treated with kid gloves as one of their own. Remember when they had that "foreign" CEO from an evil oil company, on? He ate shit sandwiches courtesy of the "elected" officials for days. They will never convict one of their own!!! Just like they will always be able to do insider trading: two laws one for THEM and one for EVERYONE ELSE.
fmnhytbg softball with this evil mjuyhr fijuyr.
I am waiting for them to start repeating his answers like OWS.
I never knew.. I never knew.. What I was doing. What I was doing.... Picture it.
For being from "One of the Smartest Guys in the Room" he sure doesn't seem to know much. :)
Jon - has anyone seen my car keys - Corzine 'lost' 1.2 billion as CEO of MF Global? Nope.
Woohoo. Big C was just asked if he would make up the difference for the losses to the customers.
"Mr. Corzine, do you have a mouth and an anus and did you eat breakfast this morning or take a crap in the past 24 hours?"
"Senator, I would have to check on that, I'm not an expert, and I would have to consult my staff. I've only been in this body for 768 months, so I can't say for sure."
its pretty apparent squid are very slippery, it will be tough to for handcuffs to stay on this one.......... at least without a major change in the political environment he is accustomed to operating in.
as i type this, the honorable congressman king just outed goldman's incestuous and pervasive global infiltration on prime time...LOL
Yeah, just saw that - props to Mr. King. Hopefully he doesn't have an "accident" in the near future, after all some squid are poisonous
so, who do you talk to to get an in with the congressional toupe and combover shop?
I don't know but Johnson should have checked a mirror at the break.
"I share your sentiments."
Is that the same as "I feel your pain?"
I want to bitch slap anyone who asks the questions "what lessons have we learned?"
Corzine: "Congressman, the money will be found",,,,,,OJ Simpson: "I will search for the killer of my wife"!
John just apologized.
We cool John, we cool.
When panel members continue to kiss Corzine's ass one can only conclude that Corzine will never do a perp walk over this while the bankers control the panel and other investigations.
TL;DR all the comments. Is anyone counting the "ums"?
WTF has this guy Corzine said that we don't already don't know.
Can anyone name 1 (one) thing ?
Anyone !
"Just yes or no Mr Corzine, are YOU and your fellow officers of the company going to reimburse and make whole the investors out of your considerable fortunes" ...? We are still waiting for an answer you blithering, blathering, stammering fool...WABOBS! ESADMF
that's not fair, every word from this scums mouth is a lie, but AG Holder stated a lie depends on what a persons state of mind is at the time.
Also, these clowns are still asking for his advice
What the fuck is this fool talking about.
Mr. Scott is an idiot. My grandmother told me..........
"The way to dusty death. Out, out, brief candle!
Life's but a walking shadow, a poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing."
Frontier Justice is the only way to handle a cattle rustler.
Good Lord no wonder why we are fucked. We have a bunch of retards in charge.
This is the era of electronic transfer of funds. There is no way they could not know where that money went unless they were hacked.
Electronic internet data trasfers "always" leaves a trial.
Always !
This is a dog and pony !
We was hacked, we was hacked..
This guy asking questions is an absolute tool.
Need a name, lots of tools asking questions ;-)
Who cares..............the fresh EU rumor (today's) is out and here goes the meltup !
it was just a misunderstanding
I had no "intention" of authorizing the looting of client accounts.
LMFAO!!!!!!!!!
Corzine resembles helicopter Ben and also has similar mannerisms
Wow finally a tough question.
Corzine actually had the nerve to state to the congressional committee that "he din't know that funds were being used to buy European sovereign bonds"...
For what other FUCKING REASON IS HE AT THIS VERY MINUTE SWEATING HIS ASS OFF TAKING QUESTIONS FROM CONGRESS?!?!
LMAO Goldman Sachs...what a fucking sick joke...
Corzine's hubris will lead to jail; or a Presidential pardon.
He keeps hammering the, "I did not intend..." line. Guess what you have to prove for fraud in a civil case...Intent. He walks.
He keeps hammering the, "I did not intend..." line. Guess what you have to prove for fraud in a civil case...Intent. He walks.
Emails will prove intent. He will walk regardless.
He's to slippery to have put it in email when a phone call would do.
Here it comes.
"The height of disbelief."
I like this guy.
Mr. Scott.
Woops. Randy Neugebauer just used the word "extorted" instead of "extolled" in regard to MF Global's position as a primary dealer.
Neugebauer is known as the congressman from Cape Cod since he and his wife spend more time there than in his Texas district. He also likes to say that the mortgage crisis is the fault of the borrowers.
Corzine did the same thing to the state of new jersey ...he said he inherited debt ...so what does he do he gives the unions every thing they want and then some more ...Plus he borrowed billions ...& billion somehow go lost in the school construction fund ...he always seems to be around lost money
Or money seems to go lost around him.
Corzine: "I am shocked, shocked to find that gambling was going on in there!"
A strong contender for Time's "Kleptocrat of the Year" award. Oops, I forgot that Time (along with all of the other news outlets) is controlled by the bankers and doesn't have a "Kleptocrat of the Year" award.
oops...on the other side of the atlantic......'fiscal union' now, hahaha
its starting to sound like Corzine should have listen to Dave Chapelle
"Mr. Corzine, we gotta find that money!"
"Did you use client funds to payoff MF Global's debt.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
No recollection.
That's right. He used the seg funds and did not re-collect those funds and restore them to the seg accounts.
Thank you so much, Honest Jon.
Haha, now calling Corzine out on his "never intended" bullshit.
I have nothing much good to say about the people, including Corzine, who are apprearing today, but the pomposity of the asshole Congressmen asking the questions )and making their personal statements) is beyond belief.
Like we've said here at ZH many times, when you write laws (or infer the laws won't be enforced) which allow people to steal, why is anyone surprised when stealing ensues?
Congress has allowed these people to do what they have done. The executive branch has allowed it. Making a spectacle out of a disaster like this is a good fucking show, but that's all it is, a show.
Why isn't JP Morgan London being asked where the money is? They know for God's sake. They're sitting around drinking 18 year old scotch having a big old laugh while they watch today.
Third world banana republic. That's what this bullshit reminds me of.
to steal a line from someone...........
crashing kabuki theaters.
bwhaaaaa
3rd wrld without even the nannas as they have been stolen.
As CEO and signer of financials Corzine has he STILL must go to jail under Saboz AS THE LAW REQUIRES HIM TO KNOW!!, not trust.
We performed stress tests.....sounds familiar. Europe anybody?
Also sounds like LTCM.
http://thefinancebuff.com/mit-lecture-by-former-ltcm-partner.html
Looks like we are getting a couple tough questions. Bread and circuses or did somebody put the word out to take him down?
He just said that he was not quite as versed as he would be if he was still in the business
so NOW the structure was/is flawed in "times of stress" --- the system WHICH I helped write made me do it!
Ya know , if you design something that only holds up in easy times you would not trust your life and fortune to that type of system?
nice try whorzine.
I remember watching this interview. Pay attention to his body language.
“Jon Corzine talks about his plans to make the "underutilized" and "not recognized" firm attractive to "folks out there looking for competitive players in their derivative activities."
CNBC's Squawk Box on March 24, 2010
Finally, Chris Flowers' name comes up.
Finally.
There are places these bitches better not go and they know it.
Who is the Babe behind Corzine, wife?
The oligopoly has perfected its public relations during these shit/circus shows we call congressional hearings-- in the end they're very sorry for participating in the social class genocide.
http://www.youtube.com/watch?v=BeP6CpUnfc0
Ms. Sewell, why, have you every been to the Hamptons?
"I did not intend for client funds to be comingled , even if someone did it, that was not my intent.."
JUST MF WOW.
Ms. Sewell, drop on a bomb on Washington DC.
Ms. Sewell, drop on a bomb on Washington DC.
Ms. Sewell, drop on a bomb on Washington DC.
jabba's head just above the lamp
http://www.financialsense.com/financial-sense-newshour/guest-expert/2011...
Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse | James J Puplava CFP | FINANCIAL SENSE
Just amazing that when the questions got tough, the thread cut out earlier.
Now he's just treading water. This is just kibuki theater.
Waterboard this MF and then send him to the guillotine. That would be a start.
Awe yeah, he just just did the Paul "enron" Krugman defense to the PR campaign about being a "Strong Counter Party Risk"
There is reason you are paid 150 times the salary of a pharmacist, an engineer, a nurse, a farmer you screwed over.
Sometimes I co-mingle my rent money to cover my Forex losses. Often from betting on the Euro.
Could happen to anybody.
Greed
Incompetence
Fraud
Mrs. Ellmers, good lookin' lady. Let's have her tour with the Palin, Bachmann cabaret.
Mud Wrestling works too
What would be nice to hear:
"As the CEO, I take full responsibility. Period. I was greedy and reckless. I will surrender my personal fortune to help fund a restitution account. I will name every co-conspirator in this crime. I ask for no mercy."
It's all over....Jon walks out of a window after the comittee hearings.
Watched the whole thing. Can somebody tell me why I did it?
So we can give Bill Clintons consulting firm a reccomendation for that 5 months of work they did? It is amazing how he just gets better and better. I need Intrade like exchange to start a trade for Hillary as the next supreme court justice so I can make some real money. Are you listening Jon? you still have much to give!
The MF Global money molestors transferred money from segregated accounts to their brokers, while MF was being audited !
Someone's going to prison for a long time over that one. What's taking the feds so long to figure out who dunnit?
Here's a thought, the next time the SEC/CFTC/FDIC/FCM etc....shows up for an audit, bring an FBI unit with a packet sniffer at the wan/lan point logging every transaction that happens during the official act. You'll find all sorts of illegal crap going on from insider trading to flat out stealing and hiding money, and emails being sent frantically providing more evidence, and more leads. It's like flipping on the lights of a roach infested hotel.
Where's the fucking money, Lebowski?
STFU, Donnie
What Corzine wants: To be liked, to keep his ill-gotten gains, to not go down criminally like all the other rogue CEOs, to be held in esteem by his former colleges, publicly, even if deep down and privately they regard him as low life scum.
So his lawyer put it to him straight with this risky legal strategy; be nice, smile a lot, fake it til you make it, admit some blame while not accepting wholesale culpability. The other senators will publicly treat you as former colleges generally are--as an esteemed former senator, while probably regarding you privately as low life scum.
Odds he beats the rap instead of joing Madoff and Dennis Kozlowski in club fed. If he avoids criminal charges he wins.
After this MFG thing, ANYONE with ANYTHING in a brokerage account DESERVES to lose it.
Rule of law replaced with rule of man...