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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hangemhigh77's picture

how is she going to see red flags?  Her head was in Gensler's lap.  This schister doesn't know jack shit.  Just slap this guy already.

hangemhigh77's picture

Let's confirm that you need your schister lying ass kicked

haskelslocal's picture

What a lawyer, the 175 are "systems guys and things like that". I'm a Chief Things Like That Officer.

hangemhigh77's picture

No everything looked fine to us.

Ralph Spoilsport's picture

These are the lamest bunch of questions yet.

hangemhigh77's picture

the ineptitude is AMAZING!!!

hangemhigh77's picture

No one is allowed in the room with an IQ over 70

AndrewJacksonsGhost's picture

Representative- "Hey, I resemble that remark!"

hangemhigh77's picture

Well the technique she uses is back and forth movement with her head on Gensler's little wee wee

DOT's picture

Fraudulent conveyance.  Pay -up JPM !

 

hangemhigh77's picture

The only thing this bitch knows is how to give good head.

haskelslocal's picture

Will we have this hearing when humanity is wiped out? "I think at the end when we know what happend then we can go back and police it more effectively."

Oro's picture

Reporting; "spot checking"?  Shit!

AndrewJacksonsGhost's picture

Current idiot- Can we takeover this institution and then nationalize all of these type of institutions? Can we also just let all of those that committed fraud go and say they REALLY did not commit theft and then use that to become a communist country?

 

Response- YES

 

Thanks for agreeing with me to continue the complete takeover of everything. You are a patriot comrade.

hangemhigh77's picture

And the schister says, huh?  I don't know nuttin'

overmedicatedundersexed's picture

the committee has found the crooks do not obey the laws so we will write more laws that they avoid with a larger gov body to run it so we will raise taxes and borrow more money.

we sheep now must give blood along with wool.

DOT's picture

Gain ! From 2/3 to 70 %   !

 

More !

hangemhigh77's picture

Bring Ron Paul in and let him ask a few questions.  Now we have a dumb Mexican asking questions?  This guy needs to get back in the kitchen and make the tacos for liunch

AndrewJacksonsGhost's picture

By the way, if you have not invested in the most valuable PM at this time, you should.

Pb is trading WAY UP.

 

Followed by Tar and Feathers.

Bansters-in-my- feces's picture

Check out Kitcos gold lease rate charts,if you want to see how the gold manipulation is aided. The charts show (deceptively) the rates went down to NEGATIVE 8% FOR A VERY SHORT PERIOD,just befor the price got hammered. The bullion banks were given gold that they were paid to take,and dump on the market.

Then they just roll a negative lease over and over

Thes gold lease rates at negative are woth watching,they tell a story.

FUCK YOU's PPT

GrinandBearit's picture

There are no lessons learned you asshole... it's always been wash, rinse and repeat... and it always will be.

DOT's picture

" Whole" is the new "un-whole"

Gamma735's picture

The customers' monies were stolen to pay off MFGlobal's bad European bets. 

hangemhigh77's picture

Aiiiiiy carumba!!  Andeleeeee andeleeeeeeeee, arrrriiibaaa arrriiiibaaaaa

sgt_doom's picture

Jon Corzine:  Gentlemen, I know absolutely nothing about finance.

Robert Rubin: Gentlemen, I know absolutely nothing about finance.

Ben Bernanke:  Derivatives?  Securitizations?  Gentlemen, I'll have to get back to you on that!

Maurice "Hank" Greenberg: Gentlemen, ignore all my remarks to those GAO auditors back in the late '90s, I know absolutely nothing about all these exotic financial instruments.

hangemhigh77's picture

Oh she's really rolling now.  OK that fixes everything.

bigdumbnugly's picture

"lessons learned."   "moving forward."    etc.

and other such nonsense.

i am so sick of wonk speak.

a b s o l u t e l y    sick of it.

sgt_doom's picture

David Cardona:  FCIC report?  What FCIC report?  We know nothing about crimes committed by the banks!

hangemhigh77's picture

this guy is a dic smoker

Ralph Spoilsport's picture

A disgusting waste of time.

glokk26L's picture

Hey, I bought a set of Pirellis... I never was offered a calendar of naked supermodels!

For some strange reason I feel the urge to buy more tires...

hangemhigh77's picture

reg 1.25?  Well that solves everything.  Here's a new reg.. reg "FUCK YOU AND DIE"  hang them all

haskelslocal's picture

Keep asking questions about 1.25 which has been said 4 times now had nothing to do with anything. So, next guy, ask it again. It's a great time waster...

hangemhigh77's picture

Thank God the people are represented by all these honest politicians.  Whatever they determine as justice is good enuf for all the slave they represent

Ralph Spoilsport's picture

How many times are these clowns going to use the phrase "lessons learned"?

AndrewJacksonsGhost's picture

This whole thing can be explained to another current debate.

 

Criminals do NOT follow the law. You can pass a thousand laws, regulations and controls on guns. But criminals do not care about gun laws. Criminals will get guns!

 

Fraud and criminal activity in this case is SIMPLE and straight forward. MF stole money from others to cover their INSANE bet on soverign debt. Corzine personally bet that the US would bail out the EU. He had inside information and then the game changed. He was stuck, the company did not have the margin call to cover the bet, therefore he STOLE the necessary funds from customers. Then the metaphorical crap hit the fan. The whole thing went down.

This is the scenario I see coming out in the future. Time will tell.

Also, Corzine WILL NOT be held accountable, no one will be held accountable for it.

 

If you steal an oarnge to hold off starvation, you will go to jail. If you steal $1.2 Billion you will be suggested to be the sec treas.

TheSilverJournal's picture

The MF Global / John Corzine fiasco should scare the begeezus out of investors. Now, not only are investors taking risks on their own bets, but the are also taking on the risks of their brokerage.

hangemhigh77's picture

Cockzine is taking a shit right now.

hangemhigh77's picture

capable professional staff?  Excuse me but...ahahahahahahahahahahahahahahahahahahahahaha  NOW THAT'S FUNNY!!!!!!!!

haskelslocal's picture

That douche was an expert at asking question he knew could not be answerd.

GrinandBearit's picture

This hearing is absolutely ridiculous.   I'm done wasting my time with this bullshit.

Oro's picture

Good stall!  She will say no

AndrewJacksonsGhost's picture

ooooohhhhhhhh!!!!!!!!!!!!!

A late hit!

 

Tell us if there is any other problematic houses?  Hmmmmm?

Ralph Spoilsport's picture

Meanwhile, Glenn Beck babbles about how holy he is and please buy another copy of "Christmas Sweater". Limbaugh complains about Obama campaign funding and Dumbocrats picking on poor Newt Gingrinch.

AndrewJacksonsGhost's picture

Hey Ralph, have you seen any of the lefties telling ANYONE about the problems? No, so quit your bashing of Beck and Limbaugh. Unless of course you are just here to sock obama and his criminal cabal?

Ralph Spoilsport's picture

Hey Andy, sorry to tarnish your golden idols, but all the right wing talking heads are playing a broken record. I don't expect the lefties to do anything but promote communism.

AndrewJacksonsGhost's picture

Idols, I would expect a sockie to use ad homs to debate, but could you at least get your arguments properly cleared from your local supervisor. You may end up looking a little ignorant.

By the way, can you show me the democrats in this here investigation actually calling for criminal charges?

Thanks.

haskelslocal's picture

How does anyone chose to deflect this to be some political/entertainment issue? Please.

AndrewJacksonsGhost's picture

Hey, been listening to beck since he started calling for PMs 6 months after I pulled my retirement funds and put it all in. That was in 2007.

Hmmmm, and the dems told me that everything was fine. So you can continue to think that this is not political. RP has been saying for decades, are you now going to say that RP was wrong.

haskelslocal's picture

Andy, you may have gotten good "advice" but in that advice you were not getting it politically. You don't go around asking everyone their political affiliation prior to your talking to them do you? Guy at Home Depot helping you buy some wood may help you build a sweet deck but his political affiliation is irrelevant. As is any on-air entertainer who gives you PM investing advice. Least we forget this is one system, not two.