Skip to comments.MF Global executive refuses to testify before Congress (Assistant Treasurer Edith O'Brien)
Posted on 03/28/2012 3:16:43 PM PDT by NormsRevenge
WASHINGTON (Reuters) - A finance executive at MF Global Holdings Ltd invoked her right against self-incrimination as lawmakers heard from officials who played critical roles in the final days of the futures brokerage, when a huge and still unexplained shortfall in customer money surfaced.
Assistant Treasurer Edith O'Brien, believed to have been involved in authorizing a $175 million transfer that may have included customer funds, three days before MF Global's bankruptcy filing on October 31, declined to testify on Wednesday.
"On advice of counsel I respectfully decline to answer based on my constitutional right," she told subcommittee chairman Randy Neugebauer when asked whether she gave former MF Global Chief Executive Jon Corzine assurances that the fund transfer was proper.
She invoked her right not to testify in response to other questions from the oversight panel of the House Financial Services Committee before Neugebauer excused her.
"I am disappointed because of your answer because I believe that you have important knowledge," said Neugebauer, a Texas Republican.
The panel is examining why an estimated $1.6 billion of customer money has gone missing, and the extent to which Corzine and other officials might be responsible.
MF Global filed for protection from creditors after investors and customers became rattled over the firm's $6.3 billion bet on European sovereign debt and downgrades by credit rating agencies, resulting in a liquidity crunch.
(Excerpt) Read more at news.yahoo.com ...
I can think of 1.7 Billion reasons why this lady will not be testifying. And many of those reasons probably involve continuing to breath until she reaches a ripe-old-age.
Norm, Norm..dontcha know? NOBODY is responsible anymore for anything, especially if they are CONNECTED to Obommer’s peoples!!
Seriesly tho, why haven’t Corzine and the rest of that company been indicted yet? Maybe the Solyndra mess in creating too much work for the DOJ??
And awaaaaaaaaaay we go!
Two things should happen here. Corzine and other Execs should go to jail. Second, the customer money should be clawed back from those who got it. That is the only way to prevent similiar things from happening again. People receiving stolen money or merchandise don’t get to keep it.
"See, Barry, I told you she wouldn't say nothing...she knows what would happen."
Corzine is looking good for prison after his gal plead the 5th today....
Offer her immunity. She’ll spill the beans on Corzine.
Throw her ass in jail and let her think about it.See if that won’t loosen her tongue just a tad.
Liquidity crunch, PC talk for flat ass broke...
Subpena the secretaries & assistants to these hot shots.
They do the paperwork & probably could spill a lot of beans.
She’s a bad MF and I ain’t talkin’ ‘bout Shaft.
Were the OWS protesters outside with signs demanding Crozine go to jail for stealing from the 99% that earned the money??
MSM will protect this 1% Wall street guy.
Obama wanted him as Sec’y of the Treasury should Geitner leave!
Where is Jon Corzine and the $1.6B of customer money?
THe best thing to do now, or if there is a Republican administration next year, is to sic the IRS on everyone connected to MF Global to see if they got an unusual sum of money. And I mean every employee. Jail time for lying to the IRS is pretty steep and some of the lower lifeforms will crack and spill the beans, or they will “Sleep with Bubba,” including the women.
Time to go medieval on their asses.
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