Watch Jon Corzine's Follow Up Testimony On The MF Global Bankruptcy, Accompanied By MF's CFO And COO

Tyler Durden's picture

Update: the three MF Global stoog... pardon, former executives, are now testifying

Even though he has had several days in which to "review his notes", the follow up testimony by former MF Global CEO Jon Corzine to the Senate Agriculture Committee starting momentarily will be replete with "I don't recalls" and "to the best of my knowledge" and will be largely devoid of all content, suffice to say it was not his intention to break the main law of broker dealers- no commingling. It will be even worse because today he will be joined by MF global's CFO and COO as well, all of whom will be completely clueless once again, and needless to say, shocked, SHOCKED, that they stole billions from their clients. Watch the full webcast below.

From the Senate Agri Committee

On October 31, 2011, MF Global Holdings Ltd. declared bankruptcy – the eighth largest bankruptcy in U.S. history. Since then, federal officials have been unable to find a significant amount of the firm’s customer’s money. It is currently estimated that up to $1.2 billion in customer funds is missing. The Senate Committee on Agriculture, Nutrition and Forestry has jurisdiction over the sort of commodity trading that MF Global was engaged in, and the hearing on December 13 will be a continuation of the Committee’s investigation into the firm’s bankruptcy.

Witnesses

Panel I

Mr. Roger Hupfer
    Grain Elevator Operator
    Freeland Bean & Grain, Inc.
    Freeland , Michigan
   
Mr. Jeffrey Hainline
    President
    Advanced Trading, Inc.
    Bloomington , IL

Mr. Dean Tofteland
    Farmer
    Luverne , MN

Mr. C.J. Blew
    Farm/Rancher, Chairman of the Board, Board Director
    Mid Kansas Cooperative Association, Board of CHS, Inc.
    Hutchison , KS

Panel II

Hon. Jon S. Corzine
    Former Chairman and Chief Executive Officer
    MF Global Holdings Ltd.
    New York , NY

Mr. Henri Steenkamp
    Chief Financial Officer
    MF Global Holdings Ltd.
    New York , NY

Mr. Bradley Abelow
    President and Chief Operating Officer
    MF Global Holdings Ltd.
    New York , NY

Panel III

Mr. Terrence Duffy
    Executive Chairman
    CME Group
    Chicago , IL

Mr. James W. Giddens
    Trustee
    Securities Investment Protection Act liquidation of MF Global, Inc.
    New York , NY

Hon. Jill Sommrs
    Commissioner
    Commodity Futures Trading Commission
    Washington , DC

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FEDbuster's picture

Be careful what you wish for.

NotApplicable's picture

"I'm tired of all of these MF'G banksters on this MF'G planet!"

anonnn's picture

Why do financial matters seem to get treated differently under the law?

Ans. Because the law is separated into Common Law Courts and Courts of Equity.

Equity*: law, a) resort to general principles of fairness and justice whenever existing law is inadequate b) a system of rules and doctrines, as in the US, supplementing common and statute law and superceding such law when it proves inadequate for just settlement c) a right or claim recognized in a court of equity.

Note c), above. It is the arbitrary justification by financial elites, who write the law, to enable handling outside the Common and Statute law, so that their influence prevails. That's how elites can usually maneouver to escape prison-time.

Thus, Courts Of Equity can rule based of "fairness" limited to just the direct ["obvious"] parties in the dispute, neglecting the indirect and real impacts/harm on the general public whose input into the matter is walled-off.

Courts Of Equity can be used to block/protect ThePowersThatBe from strong legal penalties. They act as a form of backstop*.

*backstop: a fence, screen etc, especially one behind the catcher in baseball, serving to stop balls leaving the playing area. [Curious, aint it?]

 

Mr_Wonderful's picture

Excellent interview. She´s very eloquent, tells it exacly like it is.

LeonardoFibonacci's picture

Governor Corzine??? My fucking ass

NotApplicable's picture

Anybody willing to lay odds? Or will this be the "must see TV" event of the MSM year in a scripted cover-up?

Tune in and find out, today on...

SHEEPFUKKER's picture

The sequel is rarely as good as the original.  

Freddie's picture

Where is Democrat Bill Clinton?  He was skimming $50,000 a month off MF Worldwide since Corzine arrived at MF to loot it.    Democrat Corzine is protected by the head Democrat and muslim.

Freddie's picture

All Democrats just like Bernie Madoff who was protected by Dem Senators in NY, CT and NJ. 

Hugh G Rection's picture

Enough with the party nonsense. It makes little difference to me whether my money is stolen by the Gambinos or the Genoveses, they both need to be broken up and sent to federal pound my ass prison.

Piranhanoia's picture

No,  everybody isn't after you, and everybody isn't muslim, or jewish, or anything.  Take your meds and the blurs will fade.  It will help you determine what is real or not. Everybody is lots of people and they aren't in your room with you.

Potemkin Village Idiot's picture

The biggest conundrum in my mind is this...

I'm trying to determine how 'Freddie' could be using a HIGH SCHOOL YEARBOOK foto, when it's unlikely at all that he ever attended HIGH SCHOOL...

 

Mr Lennon Hendrix's picture

obama isn't even in charge of anything, he's just a puppet

Ruffcut's picture

Puppets can be cute, he is a suck puppet. Not even good enuff for porn.

azusgm's picture

It's called influence peddling, Freddie.

Ruffcut's picture

" well mr chairman. This morning I woke up, took a big shit, then got out of bed. After that, it has all been downhill."

bankonzhongguo's picture

It should not be lost an anyone that a big part of this impacts food - meaning food producers. 

Not just some traders in obscure offices.

The fact that mid-west farmers are testifying should tell you something about spring plantings being impacted.

If you are in the commodities business, what better way to game the system than pull the financial rug out from under farmers.

Food IS a weapon.

 

LeonardoFibonacci's picture

Why does the committee keep calling him Govenor Corzine, it should be "prisoner 000666 Corzine" in an orange jumpsuit and handcuffed + leg irons to the ankles.

vast-dom's picture

At least in true sociopathic BPD style they won't have the oppurtunity, given senate and teevee witnesses, to BLAME the very investors that they robbed. So to joy, it could be much worse! Or could it? Let us never underestimate potential for kangaroo court crocidile tear theatre of the adsurd....

mattu13048's picture

Cut the crap! This is what happened at MF Global just before filing for bankruptcy: http://bit.ly/tk1vLa

In Fed We Trust's picture

Joe Corzine ob Commingling:

Your Honor,
Wit all do respect,

Rip-Off, Reverse Rep Off,

WHAts the Dif?????

Wit free money from the FED?

Wit would you do?

fonzanoon's picture

Sorry to divert but what the f just happened in Belgium?

AngryGerman's picture

1 to 3 idiots started throwing granades and fired with a kalaschnikow in the centre of Lüttich. So far 2 dead and 50, partially heavily, wounded. Whole thing happened next to a court where there was a trail going on against four badasses. No confirmed relations.

Freddie's picture

You left out the part that it is a Pakistani honor killing case.

LFMayor's picture

We don't mention religion or ethnicity, unless it's some of those white christianists militias that pose a massive, silent and lurking threat to our national security.

Ratscam's picture

it's 12-13-11 and the Belgians were given a lesson to comply more to EU rules

Potemkin Village Idiot's picture

Maybe they'll use the "I thought it was Halloween Candy" defense...

Joe Davola's picture

Used to wonder why this wasn't being done in front of the banking committee, but with all the BS that will be spread the agriculture committee is much more appropriate.

midgetrannyporn's picture

The committee will now deliberate which committee member gets to blow jon corzine first.

azzhatter's picture

"It was not my intention to get caught"

Comay Mierda's picture

im not really a fan of the death penalty, but in this case i can make an exception.  this fucker should hang in times square.

Seasmoke's picture

December 31st , would make a perfect time

NotApplicable's picture

Dick Clark might even show back up for that.

g speed's picture

better is half time at the Super Bowl   maybe get some cheer leader action to boot.

azusgm's picture

Use the guillotine. As a corporation, MF Global is a person. Jon Corzine is the head of that body. Chop the head off the body and offer the bagholders have the honor of being the basket holders.

peekcrackers's picture

I wish some would walk up and Kick Corzine right in the Bag!

 fuckstick

tekhneek's picture

I'm pretty sure there's a good amount of people on the other end of that 1.2 billion $ loss that feel the same way, only with a little more force than a foot.

"fuckstick"? That's so nice it's not even funny.

Abitdodgie's picture

Sorry to say there is no rule of law ,so if that had been my money , he would of run into the law of the jungle.

SWRichmond's picture

Did one of them just tell the "white knight" story?  OMFG.

peekcrackers's picture

Tekneek

I am not here to be nice or funny .. So if you dont like the word " fuckstick" then do not read it .. or go write Ann Landers and talk about your childhood issues. Try hugging a tree or go watch butter flys .. But a scum bag like Crozine should be tattoo with way worse names then FUCKSTICK..

 

 

 

NotApplicable's picture

Nah, I'd rather give Celente the opportunity to do a "Grab and Snatch." You take my gold, I take your Family Jewels.

tekhneek's picture

No thank you. I will not watch this bullshit. I have better shit to do with my time than listen to a fucking liar.

centerline's picture

These guys should be in orange jumpsuits and shackles as they testify.  Anything less makes watching this painful.  The only silver lining here is that ANYONE with two brain cells or more should be able to clearly indentify now that we have become a banana republic.  The rule of law as it applies to the masses is entirely different than as it applies to the financial and political elite.

tarsubil's picture

Yeah, the last episode of this farce was too boring, too forced, and too over the top. Enough with the pretense already. We know you're robbing us. Just be up front about it.

The Fonz...before shark jump's picture

agreed plenty of time for bullshit and liars next year...it is an election year afterall

squib's picture

A fcking liar that will 'get away' with it. I wonder if their time will ever come.