You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #50: Corzine Tries to Delay Congressional Hearings on Firm's Collapse [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 08:00 AM
Response to Reply #30
50. Corzine Tries to Delay Congressional Hearings on Firm's Collapse
Edited on Tue Dec-06-11 08:02 AM by DemReadingDU

12/5/11 Corzine Tries to Delay Congressional Hearings on Firm's Collapse
Written By Charlie Gasparino

Jon Corzine isnt getting off to a good start with congressional investigators after his attorney spent the past two weeks seeking a delay in upcoming hearings and forcing subpoenas to compel his testimony at upcoming hearings into the demise of the brokerage firm he ran, MF Global, the FOX Business Network has learned.

Corzines attorney Andrew Levander angered staffers in as many as three committees investigating the firms Nov. 1 bankruptcy and its impact in the securities markets. As much as $1.2 billion in client money remains missing from MF Global, and investigators are examining whether senior officials at the brokerage improperly co-mingled the customer accounts with money used for operations during its tumultuous final days, people with knowledge of the matter tell FOX Business.

The committees have asked Corzine voluntarily testify at their upcoming hearings this month on these and other issues surrounding the bankruptcy, which faces both civil and criminal investigations by the likes of the Commodity Futures Trading Commission and the U.S. Justice Department.

But Levander attempted to persuade the leaders of both the House and Senate Agriculture committees and the House Financial Services Subcommittee on Investigations to postpone their hearings until sometime in January. Levander cited scheduling conflicts and the need to prepare for a public grilling as the reason he and his client needed more time.

But his insistence to postpone the hearings angered some lawmakers and their staffers who believed Levander was merely trying to delay the hearings indefinitely.

Since then, they have vowed to force Corzine to appear through subpoena if he doesnt show up on his own. So far, the House Agriculture committee has issued a subpoena to Corzine for its scheduled hearings on Thursday. People close to the former New Jersey governor say its still unclear if he will exercise his Fifth Amendment right against self incrimination and decline to answer lawmakers' questions.

Both the Senate Agriculture Committee and the House Financial Services Subcommittee on Investigations will hold votes in the coming days to determine whether to issue a subpoena to compel Corzines testimony as well. Both committees are likely to issues subpoenas for Corzines testimony if he continues to ignore their request to testify voluntarily, people close to the matter say.

Through a spokesman, Levander declined comment. A person close to him tells FOX Business that Levander offered to have Corzine testify without a subpoena if the committees pushed the hearings to January. Committee staffers say that response came only after they had established hearing dates.

Meanwhile, Levander and his client appear in a tight spot as the hearings into MF Globals fall heat up. In addition to angering lawmakers, Levander has to decide whether he should allow Corzine to give testimony or simply plead the Fifth. Failing to answer questions will be an embarrassment to Corzine, who before he served as governor, was a U.S. senator from the Garden State.

But answering questions could also open up Corzine to a perjury trap with prosecutors seizing on inconsistencies in his testimony rather than on anything related to the circumstances behind MF Globals implosion.

The trick is to figure out how Corzine can say somethinganythingso he wont have to plea the Fifth but doesnt get himself in trouble, said one prominent white collar attorney who had worked as a senior investigator at the Securities and Exchange Commission, but is barred from commenting because he represents a party in the MF Global bankruptcy. /

Printer Friendly | Permalink | Reply | Top
  -STOCK MARKET WATCH, Tuesday, December 6, 2011 Pale Blue Dot  Dec-06-11 05:55 AM   #0 
  - No reports today. nt  Pale Blue Dot   Dec-06-11 05:56 AM   #1 
  - Oil falls to near $100 after S&P warning  Pale Blue Dot   Dec-06-11 05:56 AM   #2 
  - U.S. Stock Futures Fluctuate After S&P Puts 15 Nations on Review  Pale Blue Dot   Dec-06-11 05:57 AM   #3 
  - Fluctuation or flatulence? n/t  fasttense   Dec-06-11 08:01 AM   #51 
     - Now THERE'S a Definition of Bubble-Blowing I hadn't Considered!  Demeter   Dec-06-11 08:04 AM   #54 
  - it's morning isn't it?  xchrom   Dec-06-11 06:04 AM   #4 
  - It is somewhere.....  Pachamama   Dec-06-11 07:48 AM   #45 
  - U.S. is among developed economies with highest income inequality  xchrom   Dec-06-11 06:07 AM   #5 
  - Here's Another Not-So-Funny  Demeter   Dec-06-11 06:14 AM   #6 
  - +1  xchrom   Dec-06-11 06:17 AM   #8 
  - Many Americans already finished holiday shopping  xchrom   Dec-06-11 06:14 AM   #7 
  - The rest are waiting for After Xmas Sales  Demeter   Dec-06-11 06:18 AM   #9 
  - or doing without  DemReadingDU   Dec-06-11 07:33 AM   #40 
     - Doing without. Christmas like health care....  Hotler   Dec-06-11 10:20 AM   #61 
  - Xmas shopping became easy when my dad died  Warpy   Dec-06-11 01:00 PM   #68 
  - Gavyn Davies: Germany is winning the debate on fiscal union  Demeter   Dec-06-11 06:21 AM   #10 
  - under sarkozy -- the french got downgraded -- kinda hard to bring to  xchrom   Dec-06-11 06:24 AM   #13 
  - Raghuram Rajan: Europes pain must be widely shared  Demeter   Dec-06-11 06:25 AM   #14 
  - France and Germany agree new rules  Demeter   Dec-06-11 06:27 AM   #15 
  - U.S. job growth engine is badly broken  xchrom   Dec-06-11 06:21 AM   #11 
  - TURN OFF THE JOB-KILLING MACHINERY, FIRST!  Demeter   Dec-06-11 06:28 AM   #16 
     - AMEN!!!!!!  Tansy_Gold   Dec-06-11 06:57 AM   #28 
     - +++  DemReadingDU   Dec-06-11 07:34 AM   #42 
  - After MF Global: How to protect customers cash  Demeter   Dec-06-11 06:23 AM   #12 
  - US futures watchdog tightens client funds rules  Demeter   Dec-06-11 06:38 AM   #20 
     - MF Global customer: My entire account is missing  Demeter   Dec-06-11 07:02 AM   #30 
        - Corzine Tries to Delay Congressional Hearings on Firm's Collapse  DemReadingDU   Dec-06-11 08:00 AM   #50 
           - Good thing he's a nominal Democrat  Demeter   Dec-06-11 08:03 AM   #53 
           - He's probably trying to buy time  MsLeopard   Dec-06-11 09:30 AM   #58 
           - House Panel Votes to Subpoena Corzine for MF Global Hearing  DemReadingDU   Dec-06-11 08:09 AM   #55 
           - Karl Denninger: Clawback Risk. Must Read!  DemReadingDU   Dec-06-11 08:22 AM   #56 
           - Mr. Dimon, there is a Bud White here to see you.  Hotler   Dec-06-11 11:08 AM   #63 
           - Our quote of the day....  AnneD   Dec-06-11 08:48 AM   #57 
              - Well played. eom.  Hotler   Dec-06-11 11:10 AM   #64 
              - Uh, not to be picky, but that would be your N-I-N-T-H grade English teacher.  Tansy_Gold   Dec-06-11 02:42 PM   #69 
                 - It was English....  AnneD   Dec-06-11 03:29 PM   #70 
           - Why is Corzine not in jail waiting to testify before a Grand Jury or,  Hotler   Dec-06-11 10:49 AM   #62 
              - He needs a visit with Bud White  DemReadingDU   Dec-06-11 11:57 AM   #67 
                 - We could keep Bud White busy. eom.  Hotler   Dec-06-11 04:08 PM   #71 
                    - I'll bite; Who is Bud White?  Demeter   Dec-06-11 04:53 PM   #74 
                       - see this video posted earlier by Hotler #63  DemReadingDU   Dec-06-11 05:42 PM   #76 
  - BP claims Halliburton destroyed evidence  Demeter   Dec-06-11 06:30 AM   #17 
  - Dollar gains in wake of S&Ps EU warning  xchrom   Dec-06-11 06:30 AM   #18 
  - ITC to buy Entergys south-east US grid  Demeter   Dec-06-11 06:37 AM   #19 
  - asia: Asia stocks slide after S&P warning on Europe  xchrom   Dec-06-11 06:41 AM   #21 
  - Chaoda joins junk heap  xchrom   Dec-06-11 06:57 AM   #27 
  - Vietnam Risks Stability If Policy Eased, IMF, World Bank Say  xchrom   Dec-06-11 07:10 AM   #32 
  - Exclusive - Shell strikes shale gas in China  xchrom   Dec-06-11 07:54 AM   #47 
  - China Development Bank inks pact with global buyout  xchrom   Dec-06-11 07:57 AM   #48 
  - When the Banksters Finally Go On Trial, Let Us Rework This Quote  Demeter   Dec-06-11 06:43 AM   #22 
  - Iceland's special prosecutor arrests former Glitnir CEO  Demeter   Dec-06-11 07:05 AM   #31 
  - One Bank to Rule Them All By Mike Whitney  Demeter   Dec-06-11 07:12 AM   #33 
  - YES! n/t  Hotler   Dec-06-11 11:15 AM   #65 
  - europe: Neither Paris nor Berlin, but Frankfurt...  xchrom   Dec-06-11 06:44 AM   #23 
  - Ireland One year after bailout, a bitter budget  xchrom   Dec-06-11 06:47 AM   #24 
  - German Factory Orders Surge on Rebound in Export Demand: Economy  xchrom   Dec-06-11 07:12 AM   #34 
  - More evidence emerges of renewed contraction in Spanish economy  xchrom   Dec-06-11 07:29 AM   #39 
  - EU Leaders Attack Standard and Poor's After Ratings Warning  xchrom   Dec-06-11 07:36 AM   #43 
  - U.S. seen only partly backing global accounting rules  Demeter   Dec-06-11 06:49 AM   #25 
  - Guess Which Country Has Debt Of Nearly 1000% Of GDP...  Demeter   Dec-06-11 06:50 AM   #26 
  - Jobs Mirage: 315,000 Drop Out Of Workforce, Driving Unemployment Rate To Three-Year Low  Demeter   Dec-06-11 06:59 AM   #29 
  - And what do those 120,000 pay the people in them?  Tansy_Gold   Dec-06-11 07:23 AM   #37 
     - I've been AWOL from the Condo Board for About a Week  Demeter   Dec-06-11 08:01 AM   #52 
  - Wis. firm reverses 1-way flow of shoes from Asia  xchrom   Dec-06-11 07:15 AM   #35 
  - Just one of the reasons I go barefoot as much as possible n/t  Tansy_Gold   Dec-06-11 07:26 AM   #38 
  - "26 TRILLION Dollars In Bank Bailouts! That's Not Including TARP!" Alan Grayson  Demeter   Dec-06-11 07:19 AM   #36 
  - Dolls, Candy and Mechanism Design Theory  xchrom   Dec-06-11 07:33 AM   #41 
  - Re the toon -- Stetson U reaches out to 60 Minutes family  Tansy_Gold   Dec-06-11 07:43 AM   #44 
  - I am happy for the kids....  AnneD   Dec-06-11 09:57 AM   #59 
     - AnneD - you are a kind and caring person  DemReadingDU   Dec-06-11 08:29 PM   #79 
        - I always say that about....  AnneD   Dec-07-11 09:24 AM   #81 
  - south asia: Gold hits week low, silver down from 3-week high  xchrom   Dec-06-11 07:49 AM   #46 
  - The Decline and Fall of Just About Everyone By Pepe Escobar  Demeter   Dec-06-11 07:57 AM   #49 
  - Time for this thought...  AnneD   Dec-06-11 10:03 AM   #60 
  - Will a European bank fail or  Hotler   Dec-06-11 04:14 PM   #72 
  - k&r n/t  Hotler   Dec-06-11 11:46 AM   #66 
  - We should start a pool. Guess the date or time frame that  Hotler   Dec-06-11 04:17 PM   #73 
     - I want Goldman to Fail  Demeter   Dec-06-11 04:59 PM   #75 
        - I know you do.  Hotler   Dec-06-11 06:29 PM   #77 
        - "The bigger they are  Demeter   Dec-06-11 06:52 PM   #78 
        - metoo metoo metoo metoo metoo metoo!!!!!  Tansy_Gold   Dec-06-11 09:21 PM   #80 

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC