[raisincane]

Whoo! Where did this Dem from Georgia pick up some sense?

[blackdog]

Translation = Corzine lost much of the congressman's relatives money.

If nothing else, politics in America is strung with a single thread.

[Oatka]

This prompted committee member, Rep. David Scott, D-Ga., to remark that it was the "height of disbelief" for Corzine ....

Too bad he didn't use Hillary's "Willing suspension of belief" slur to Gen Petraeus.

[PA-RIVER]

I do wonder if Corzine ran it into the ditch to bail out a friend who was holding too much Euro debt. If someone needed to unload or needed the price bumped up, I wouldn't put it past Corzine to buy the crap (with other peoples money) for a return favor.

[Graewoulf]

When Democrat Corzine assigned un-wanted debt to MF Global clients by investing their money, it was a violation of Federal rules. Corzine may go to jail.

When Democrat Obama assigned un-wanted Debt to US taxpayers by “investing” their money, it was NOT a violation of Federal rules. Obama may be re-elected.

BTW, everybody really should do “their fair share.”

[tioga]

Pompous pecksniffian punk.......like all dems, he believes he is above all of us. I recall hearing about him flying down the interstates of NJ with total disregard to others’ safety while he was governor. Just as he did with their money.

[Political Junkie Too]

Corzine's only defense at this point is that he voted YEA on the Sarbanes-Oxley Act (H.R. 3763).

That means that he didn't read the bill and had to pass it to find out what was in it.

Now he's going to find out.

-PJ

[Iron Munro]

This is just another political three ring circus for congress critters to get their faces on TV.

Did they actually expect Corzine to come in and say he authorized the illegal use of investors funds?

Heck no!

If they had really wanted to find out what Corzine did and what happened to the $1.2 billion they would have subpoenaed the people who reported to Corzine, the people who took his orders, the people who might be facing prison if the truth about Corzine doesn't come out.

[FES0844]

Investors should occupy Corzine’s house just like they did Madoff’s.

[MarkL]

When Corzine was in the senate, did he vote for Sarbanes/Oxley? I don't know if he was in the senate at that time. But I do know that according to the laws, "I don't know what happened" isn't a valid response to an inquiry, and some pretty harsh prison time can be handed down over this sort of thing... They have to "sign off" on compliance documents, and they're criminally responsible.

The only reason I know this is that since SOX was implemented where I work, things that used to take 5 minutes to do still take 5 minutes, but I also have to fill out paperwork for 10 - 15 minutes, and chase down the people who have to sign off on it.

An entire industry has sprung up around SOX compliance.

Mark

[New Jersey Realist]

I’m for waterboarding the bastard!

[crosshairs]

Well don’t let his arse off the hook.

[yeetch!]

My guess is the firm lost a half a billion then tried to double up and catch up using customer’s accounts on another risky bet and oops lost that one too.

[apoliticalone]

The priority of prosecutions in the USA is way axx backwards. We need to prosecute starting at the top instead of the bottom of the food chain.

Why are we spending mucho public dollars incarcerating non-violent, supposedly victimless criminals and while letting these political elite go free? I’m all for a policy that establishes CAPITAL punishment for those that steal / scam over say 10 million dollars from society, and as a result create many victims. Madoff and Ken Lay and many scammers of charitable orgs. come to mind?

If one steals that much they need to face capital punishment even if they wear a tie to the office and schmoooze with important people, regardless of Party. These thieves are very calculating and smart and that risk alone would end it.

Corzine and others need to face the music. But instead the lawyers will say we can’t prove it. BS! They consider him one of them.

[hattend]

Jon Corzine, the former CEO of the bankrupt brokerage firm MF Global, has testified before Congress about his role in the company losing nearly a billion dollars.

Wow! That's a lot! Compared to the trillions Congress has lost or stolen out of the economy since 2006, I'm just appalled!

[Vince Ferrer]

Corzine knows exactly what happened with the money. Right now he feels pleading ignorance is a better strategy, propably because if he flat out said what happened, he would likely be dead. (and not by the hand of his customers, but by his fellow criminal bankers. This one is big, and when people start to understand, it will collapse Wall Street)

MF Global and the great Wall St re-hypothecation scandal