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Reply #55: House Panel Votes to Subpoena Corzine for MF Global Hearing [View All]

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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 09:09 AM
Response to Reply #50
55. House Panel Votes to Subpoena Corzine for MF Global Hearing
Edited on Tue Dec-06-11 09:11 AM by DemReadingDU
12/6/11 House Panel Votes to Subpoena Corzine for MF Global Hearing

The U.S. House Agriculture Committee voted to subpoena Jon S. Corzine, former chairman and chief executive officer of MF Global Holdings Ltd., for a Dec. 8 hearing on the collapse of the New York-based brokerage.

House lawmakers on the panel voted by voice without opposition today in Washington to issue the subpoena. The Senate Agriculture Committee and the House Financial Services Oversight and Investigations subcommittee separately announced plans to consider Corzine subpoenas next week.

Congress has joined federal regulators in seeking answers about the steps that led to MF Global seeking bankruptcy protection on Oct. 31 after wrong-way bets on European sovereign debt. The Commodity Futures Trading Commission, Securities and Exchange Commission and Justice Department are investigating as much as $1.2 billion in missing customer funds.

The events that have unfolded since Oct. 31 are unprecedented and have resulted in the loss of property of many of our constituents and a loss of confidence in the futures markets for many more, Representative Frank D. Lucas, the Oklahoma Republican who leads the House Agriculture Committee, said at the meeting. Corzines testimony is essential to fulfill our objectives on behalf of our constituents and to complete the hearing record, Lucas said.


I wonder if CSPAN will televise this hearing on Thursday?

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