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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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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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To: PGR88

Obama and Biden made several campaign visits to NJ.

Obama ads for Corzine ran relentlessly on pricey NY media.

Obama directed the WH take over Corzine’s campaign.

OBAMA WAS DESPERATE FOR CORZINE TO WIN. Obama was heavily invested in the NJ gubernatorial race—one of only two statewide races that were a test for Obama’s policies. Virginia also elected a Republican. Obama campaigned in NJ three times, Biden was there twice. Obama TV ads ran relentlessly on costly NY media.

Obama put the power of the WH political machine behind Corzine. The NY Times reported:

(a) every TV ad Corzine put on the air was being screened by Obama’s WH “geniuses.”
(b) Corzine’s aides gave the WH daily briefings.
(c) Obama’s pollsters took over for Corzine’s polling team, and,
(d) White House operatives were on the ground for internal strategy sessions.
(e) Obama sent NJ $17.2 billion “stimulus” which promptly disappeared.

All of it led to Corzine’s humiliating defeat at the hands of a conservative Republican with no war chest to match Corzine’s “investment in public office. ROI was Wall Street Corzine’s game.

Asked about the losing election he was a major part of, Corzine’s spox said Obama was “too busy” to look at the results.


51 posted on 12/08/2011 7:34:05 AM PST by Liz
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To: All

If Corzine pleads the Fifth even ONCE, then you know for a FACT that this scumbag knows EXACTLY what happened to the 1.2 billion dollars stolen from client accounts.


52 posted on 12/08/2011 12:49:03 PM PST by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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