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Corzine: 'I don't know where the money is'
CNN ^ | December 8, 2011

Posted on 12/08/2011 6:08:41 AM PST by maggief

NEW YORK (CNNMoney) -- Jon Corzine, the former chief executive officer of the bankrupt broker MF Global, apologized for his firm's failure Thursday and told a House committee that he doesn't know where the missing money went.

"I simply do not know where the money is, or why the accounts have not been reconciled to date," said Corzine, in prepared testimony to the House Agriculture Committee on Thursday.

He also apologized "to all those affected."

"My sadness, of course, pales in comparison to the losses and hardships that customers, employees and investors suffered as a result of MF Global's bankruptcy," he said.

The lengthy testimony is the first full response from Corzine since MF Global's failure in October. He will appear in person before the committee later Thursday.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: New Jersey
KEYWORDS: corzine; global; mf; mfglobal
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Comment #1 Removed by Moderator

To: maggief

“I simply do not know where the money is, or why the accounts have not been reconciled to date,”

So, he should also be brought up on charges of criminal negligence.


2 posted on 12/08/2011 6:10:38 AM PST by roaddog727 (It's the Constitution, Stupid!)
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To: roaddog727

At this level, you pay a small fine (small relative to your net worth, that is) and go on your way. Just ask the Countrywide guy.


3 posted on 12/08/2011 6:12:33 AM PST by Wolfie
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To: maggief

It sounds like he’s employing the Steve Martin defense: “I Forgot!”


4 posted on 12/08/2011 6:13:03 AM PST by GreenHornet
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To: roaddog727

Time for forensic accountants to be deployed. Boehner, you had better galvanize on this.


5 posted on 12/08/2011 6:13:09 AM PST by BelegStrongbow (St. Joseph, patron of fathers, pray for us!)
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To: roaddog727

6 posted on 12/08/2011 6:13:20 AM PST by TonyInOhio (Ohio's four seasons: Rain, Snow, Rain & Snow, and Humid)
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To: roaddog727

I’m sure a lot of that $$ found its way into Democratic Party coffers.


7 posted on 12/08/2011 6:13:25 AM PST by rbg81
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To: maggief

Oh - that picture is AWESOME!


8 posted on 12/08/2011 6:14:20 AM PST by PGR88
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To: roaddog727

Put the SOB in solitary confinement for the rest of his natural life, throw Chris Dodd and Barney Fag in with him. Yes, I know there are others that belong there, too, mostly ‘rats, but I don’t have the time to list them.


9 posted on 12/08/2011 6:14:28 AM PST by izzatzo ( Anybody but Obamney and Huntsman.)
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To: maggief

10 posted on 12/08/2011 6:14:45 AM PST by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: maggief
Corzine: 'I don't know where the money is'

Dims aren't good at keeping track of other people's money - just frittering it away! Many a few years breaking big rocks into smaller ones will jog his memory.
Hint to the FBI - check offshore.

11 posted on 12/08/2011 6:15:58 AM PST by The Sons of Liberty (Psalm 109:8 Let his days be few and let another take his office. - Mene, Mene, Tekel, Upharsin)
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To: Wolfie

I believe Goldman Sachs is a threat to US National Security and the Constitution.


12 posted on 12/08/2011 6:16:17 AM PST by PGR88
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To: maggief

Check his freezer......


13 posted on 12/08/2011 6:16:46 AM PST by Thermalseeker (If ignorance is bliss how come there aren't more happy people?)
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To: maggief

Does the RAT have a bank account? Start there.


14 posted on 12/08/2011 6:17:32 AM PST by Libloather (The epitome of civility.)
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To: roaddog727
""I simply do not know where the money is, or why the accounts have not been reconciled to date," said "

Love me, I'm a Liberal.

Doesn't Clinton have some of it?

15 posted on 12/08/2011 6:17:40 AM PST by Paladin2
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To: maggief

This guy is even BETTER than Timothy Geithner, why hasn’t he been the Secretary of the Treasury?

Oh, right, he had a couple of financial orgainizations and a state to run into the ground. That was a fine apprenticeship.

Don Corleone, er, Jon Corzine has been a STAUNCH supporter of the regime all along, shouldn’t he get special consideration and dispensation. After all, it is all about protecting home, family, and turf....


16 posted on 12/08/2011 6:18:20 AM PST by alloysteel (Are Democrats truly "better angels"? They are lousy stewards for America.)
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To: TonyInOhio

Obama Rallies for New Jersey Governor Corzine

http://www.youtube.com/watch?v=7skACAsPT5g&feature=fvst

Uploaded by AssociatedPress on Nov 1, 2009

President Barack Obama is campaigning on behalf of New Jersey’s Democratic governor, Jon Corzine, who is in a tough bid for re-election. Corzine is tied in polls with his Republican opponent, Chris Christie. (Nov. 1)


17 posted on 12/08/2011 6:18:26 AM PST by maggief
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To: maggief
It's in Obama’s “stash”.
18 posted on 12/08/2011 6:18:59 AM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: Wolfie
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

Thomas Sowell

...the MF'er should share the same cell and time with the criminal Blago....

19 posted on 12/08/2011 6:19:38 AM PST by B.O. Plenty (Elections have consequences....)
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To: maggief
Yet more from the ruling class are caught.. one ordered to prison already.

What keeps Blagojevich quiet about all the other shenanigans and corrupt stuff of which he has firsthand knowledge and NAMES?

What will keep Corzine quiet about all the other shenanigans and corrupt stuff of which he has firsthand knowledge and NAMES?

Why do/will they go quietly?

Death threats by the ruling class against them and their families? The usual organized crime "honor"? Even more money? A promise of serving the time in luxury followed by an early release or a pardon when things quiet down?

For that matter.. what and WHO does Sandusky know from that "world"? Will he tell what he knows?

Every two-hundred-year-old republic is entitled to at least one patriot-dictator to clean house coast-to-coast, border-to-border. IMO.

20 posted on 12/08/2011 6:19:42 AM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: maggief

21 posted on 12/08/2011 6:20:38 AM PST by PBRSTREETGANG
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To: Libloather; Liz

http://nation.foxnews.com/joe-biden/2011/11/15/biden-flashback-praises-corzine-smartest-guy-i-know-terms-economy

Biden Flashback: Praises Corzine … ‘Smartest Guy I Know in Terms of Economy’

http://www.youtube.com/watch?v=fLB-SQbs_ik


22 posted on 12/08/2011 6:22:22 AM PST by maggief
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To: Paladin2

http://www.youtube.com/watch?v=u52Oz-54VYw


23 posted on 12/08/2011 6:22:25 AM PST by Paladin2
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To: Libloather

FannieMae, FreddieMac, Solyndra, AIG, Goldman Sachs, Countrywide, Soros etc etc. The list of Democrat network failures goes on and on. The only people who make money is the Democrat network.


24 posted on 12/08/2011 6:22:46 AM PST by PGR88
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To: GreenHornet

Key up Jimmy Stewart as George Bailey:
“It’s gone! The money’s gone!”


25 posted on 12/08/2011 6:24:19 AM PST by organicchemist
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To: B.O. Plenty
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

Thomas Sowell

Bears repeating until somebody gets it.

26 posted on 12/08/2011 6:25:28 AM PST by PBRSTREETGANG
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To: maggief
Someone needs to be looking into this....

MF Global’s Downfall Raises Question on Fed's Primary Dealer Pick

27 posted on 12/08/2011 6:28:21 AM PST by mewzilla (Santelli 2012)
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To: rbg81

Claim: Clinton Collected $50K Per Month From MF Global

http://www.freerepublic.com/focus/f-news/2816382/posts


28 posted on 12/08/2011 6:35:32 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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To: maggief
MF Global is as big or bigger than Enron.

It will be up to the blogosphere, the TEA Party and hopefully FOX News to hang MG Global around Obamah's neck!

And maybe the RNC might think about using MF Global and Corzine to tie Obamah to Wall Street Corruption.

Who is that RNC guy again, I never see or hear him.

29 posted on 12/08/2011 6:35:46 AM PST by TexasCajun (Fast & Furious , Solyndra & Light Squared would be enough to impeach any White President !!)
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To: maggief

I bet he knows where every last dime of his is.


30 posted on 12/08/2011 6:39:01 AM PST by all the best (`~!)
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To: maggief

good thing he’s not the dumbest guy in terms of economy, or Barry would lose his title.


31 posted on 12/08/2011 6:39:26 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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To: maggief

I can’t remember,

my mind’s in a blender

It’s jello, jello


32 posted on 12/08/2011 6:41:39 AM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: organicchemist; The Sons of Liberty; Thermalseeker

And key up “Ma-til-da!”
Jon Corzine, he took me money offshore inna free-zer!


33 posted on 12/08/2011 6:41:58 AM PST by Lady Lucky ( Merry Christmas to all)
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To: maggief

Corzine is a terrorist. A financial terrorist.
Waterboard him and maybe then he can remember.


34 posted on 12/08/2011 6:42:16 AM PST by kawhill (kawhill)
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To: maggief

“Jon Corzine, the former chief executive officer of the bankrupt broker MF Global”

And never had any other position before that, right CNN?


35 posted on 12/08/2011 6:42:39 AM PST by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: mewzilla; Liz; kcvl; Nachum; STARWISE; LucyT; onyx

Corzine: ‘I don’t know where the money is’

http://newyorkfed.org/markets/pridealers_current.html

Primary Dealers List
Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i) participate consistently in open market operations to carry out U.S. monetary policy pursuant to the direction of the Federal Open Market Committee (FOMC); and (ii) provide the New York Fed’s trading desk with market information and analysis helpful in the formulation and implementation of monetary policy. Primary dealers are also required to participate in all auctions of U.S. government debt and to make reasonable markets for the New York Fed when it transacts on behalf of its foreign official account-holders.

Oct 31, 2011

MF Global has been deleted from the list of primary dealers, effective October 31, 2011.
Revised Primary Dealers List ››

Oct 4, 2011

BMO Capital Markets Corp. and Bank of Nova Scotia, New York Agency have been added to the list of primary dealers, effective October 4, 2011.
Revised Primary Dealers List ››

Feb 2, 2011

MF Global Inc. and SG Americas Securities, LLC have been added to the list of primary dealers, effective February 2, 2011.
Revised Primary Dealers List ››


36 posted on 12/08/2011 6:47:08 AM PST by maggief
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To: roaddog727

I’m sure the IRS will buy this.


37 posted on 12/08/2011 6:48:16 AM PST by steve8714 (Where there were two, now there's only me. When will I laugh again?)
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To: organicchemist

it’s in crazy Uncle Biden’s newspaper and then fell into the evil hands of evil banker, Mister Koch.


38 posted on 12/08/2011 6:48:22 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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To: VanDeKoik

Did you see Obama’s name mentioned anywhere in CNN’s report?

/rhetorical question


39 posted on 12/08/2011 6:49:25 AM PST by maggief
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To: maggief
Corzine: 'I don't know where the money is'

American Taxpayers: That requires a willing suspension of disbelief.

40 posted on 12/08/2011 6:49:32 AM PST by Servant of the Cross (the Truth will set you free)
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To: maggief

“said Corzine, in prepared testimony to the House Agriculture Committee on Thursday.”

Maybe I’m slow but why is he talking to the Agriculture Committee?


41 posted on 12/08/2011 6:50:40 AM PST by logitech
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To: GreenHornet

Or the Bill Clinton defense:

http://www.youtube.com/watch?v=yRXFpHH0ClY


42 posted on 12/08/2011 6:54:25 AM PST by A. Patriot (Have we lost our Republic? Do the majority of Americans care?)
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To: maggief

I wonder how much his own personal wealth expanded during his tenure at the firm.


43 posted on 12/08/2011 6:55:25 AM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: logitech; maggief
Meanwhile.....

House committee cancels vote on insider trading bill after leadership flips out

44 posted on 12/08/2011 6:56:30 AM PST by mewzilla (Santelli 2012)
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To: maggief
Photobucket
45 posted on 12/08/2011 6:59:46 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: maggief

Corzine likely forgot about his deposits in offshore banks.


46 posted on 12/08/2011 7:06:33 AM PST by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
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To: maggief

47 posted on 12/08/2011 7:06:59 AM PST by 6SJ7 (Meh.)
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To: maggief
Photobucket
48 posted on 12/08/2011 7:10:48 AM PST by baddog 219
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To: maggief

I am certain Eric Holder will hold him accountable...

HAHAHAHAHA!!!


49 posted on 12/08/2011 7:11:04 AM PST by LRS ("This is silly! It can't be! It can't be!!" "Oh yes it is! I said you wouldn't know the joint.")
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To: roaddog727
Ann Barnhardt is convinced that ALL the markets will be affected by this, and is urging everyone to get out NOW.

I'm curious to hear what knowledgeable Freepers have to say about her statements.

50 posted on 12/08/2011 7:28:20 AM PST by Disambiguator
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