Wednesday, December 7, 2011

Jon Corzine Receives 3rd Congressional Subpoena

On the eve of his scheduled testimony before the House Agriculture Committee Thursday, Corzine has been subpoenaed by the big boys- The House Financial Services Committee.  They voted unanimously to subpoena Corzine Wednesday after the former MFG CEO declined an invitation to attend the Dec 15th hearing.
Corzine will also face the Senate Agriculture Committee on Dec 13th.
Perhaps the FBI could be in attendance and make a notable arrest after the hearing?

A third congressional panel on Wednesday voted to subpoena Jon Corzine, the former Democratic senator and former New Jersey governor, about his role in the failure of MF Global, where he served as chief executive.

The House Financial Services Committee announced today that Corzine will be called to testify before the subcommittee on oversight and investigations on December 15. The subcommittee voted unanimously to subpoena Corzine after he refused an invitation to the hearing through his attorney.
The subcommittee intends to explore the causes and consequences of the brokerage firm's collapse, as well as the level of coordination between the firm's regulators.
"Mr. Corzine's testimony, along with that of other witnesses, will help the Subcommittee to properly and thoroughly examine MF Global's corporate behavior and will assist in identifying potential regulatory failures," subcommittee chairman Rep. Randy Neugebauer, R-Texas, said in a statement.
Financial Services Committee Chairman Spencer Bachus, R-Ala., said it was important for the panel to examine the company's meltdown, since its customers lost millions of dollars without a trace.
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