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LIVE BLOG: MF Global Ex-CEO Jon Corzine Faces Congress

    • corzine is a P.O.S. everything he says is a lie. HE knows exactly what happened to the money.

    • Expose them.

    • None of these wizards, financial and otherwise, who tell us they are the ones smart enough to direct the United States, knows anything about anything. Pay raise, bonus - that they know about.

    • He was also waving to the crowd and blowing kisses - that I just saw - more appearance of a rock star coming on stage than a man who just rocked world markets and hasn't a clue which black hole 1.5 billion dollars of client money went into.

    • Ditto what you said with respect to banking regulators.

    • the CENTER OF THE STORM is that CORZINE needs to PAY ...and NOT the STOCKHOLDERS ....and if he is allowed to EXPLAIN away how billlions of dollars dissappeared, and stockholders are fined ...then, it is business as usual

    • They are talking about whether the committee will swear him in or not? Shame on them...and the Justice Department and the SEC.

    • PEOPLE commit CRIMES ....not COMPANIES.......jail is a complete farce to fine STOCKHOLDERS for officers STEALING AND BONUSES

    • I would think if his bonus did not arrive when expected he would work very hard to locate who was holding up the check....$1.2B in missing client money...don't worry about that.

      I truly wish they would take this guy and others like him, and hang them in the town square, as a warning to others who "don't know" what happened and where all the money went.

      Forget that he signed a document that all financial records in their last accounting statement were accurate. It is a felony to sign such a document when you know it is incorrect. Why has no one ever been prosecuted?

      And Congress wonders why this keeps happening.... mmm let me think. Because they can pilfer these companies, take outrageous pay and walk away with a fortune and never get held accountable...Sounds like a good fraud to me too!

      God help us.

    • All this jabber about "Should Corzine Have Known?" , is smokescreen. Under Sarb-Ox, he had an affirmative duty to go find out everything he needed to certify that the financials accurately represented reality. If he did not know, he perjured himself when he certified,

    • Corzine doesn't know where the money is? No problem.

      It's obviously gone "into a little tin box that a little tin key unlocks"

    • How did Baca ever get elected? My worn out loafers are smarter than he is it would appear.

    • Oh, good, a Congressional committee is examining what when wrong at MF Global! Great! Congress can't find it's asss with both hands, but it's going to solve MF Global?

    • A Congressional committee will examine what happened to MF Global! If only Congress could find its own -ss with both hands, it might actually accomplish something.

    • Eerily simiiar to the financial condition of New Jersey under his management. Send in another Republican to clean up the mess!

    • What's with the reposting of another reporters post?

    • >'I Simply Do Not Know Where The Money Is'

      In that case go directly to prison and when you “remember” let us know.

    • On the comments on how Corzine is dressing: please refer to how he always has dressed. Never flashy, always boring. Didn't need advice.

    • “…the plight weighs on my mind every day.”

      He means he’s afraid of going to jail…

      30 to 1 leverage! That’s pretty cool. Especially when you can do it with OPM. Actually, what could be better other than free sex and drugs?

    • All he is trying to do is not purger himself. He admitted on the first question he didn't answer about transfers that he is guilty.

    • Makes you wonder how many other investment companies out there "don't know where the money is". You lend them your money to invest and they send you a statement that you have X dollars in account somewhere ... but is it really there?!?!


    • "How did he run a state?"


    • He should go to a maximum security jail until he remembers. Nothing clears up a bankers memory like a fear of sharing a jail cell with some very angry common criminal.

    • I don't recall. To the best of my recollection, bla bla bla. It wasn't my intent. I do not have the records. I didn't speak privately with Gary Gensler. Why is Corzine allowed to foul our air mass by his continued respiration?

    • Yeh right. I hope we teach another one a lesson, say 14 years, that will wipe the grin from the CROOKS face !

    • "How did he run NJ" ---- not very well.

    • "How did he run a state?"

      Not well. Believe me.

    • Well, he's either a crook or incompetent. There's no third explanation, so those who are owed the money should be able to collect all of his assets. Hand him over to Irving Pickard.

    • Republicans better be careful what they are wishing for, because if they go after Corzine they will be boxed into going after their Wall Street buddies who created the financial melt down;

    • Yes he does know where the money went. I have a question that pertains to the Elephant in the room: When will Mary Schapiro and other officials at the SEC be fired and PROSECUTED?

    • For Corzine to claim ignorance is "Obama-Speak" for I got caught, but I'm not admitting anything. Sort of reminds me of Bill Clinton lying "... I did not have sex with that ...." These liberals lie through their teeth because the facts would destroy them.

      This ex-Jersey governor and senator needs to spend about 10 years in jail.

    • If the day has come whereby a $BILLION can simply disappear from a "Wall Street" firm, then we have truly lost the ability to govern ourselves.

    • "How did he run a State?" - Rep. Roe

      "He'll disappoint the people of NJ, the way he disappointed his family" - his first wife and the mother of his children, on the occasion of his run for Governor.

      And btw, our current Governor Christie has successfully prosecuted dozens of corrupt officials regardless of their political affiliation.

    • Republicans should not have to go after this guy. Democrats should clean up their own messes. I think the regime's speech yesterday should be directed straight at Corzine.

    • Mr. Corzine is unable to work in any way henceforth. Or he doesn't know really where the money is, so he cannot be, and he cannot do a former chief of broker company, neither in a Dairy Company. We need responsible people, and not adventurers. Either he's a liar.

    • "Ignorance is not a defense and it implies that his subordinates are at fault," says Roe, who is watching Thursday's hearing from an overflow room on Capitol Hill. "How did he run a state?"

      Not very well, Mr. Roe, not very well at all.

    • Shortly before Lehman collapsed, Corzine authorized a purchase of $300,000,000 of their stock by the NJ State Pension Fund. Other "Friends of Fuld" also took similar positions with their, primarily Democratic blue state pension funds in a feeble attempt at rescuing LEH. Within weeks, it was worthless! NJ and other states should order forensic accounting studies of their pension funds since 2007, since there may be some "time bombs" lurking within.

    • He can modify the DEM game plan appropriately: 1. It never happened, 2. She's lying, 3. She just wants money, 4. They all do it. 5. It’s a Conservative deep cover op, 6. "I made a mistake, and I apologize to my wife.", 7. I apologize to all those I've hurt. 8. Stop piling on! 9. I've decided to go to treatment. 10. I've decided to resign, for the good of the Republic.

    • Just ask "Dead Meat" in Illinois how he ran the state.

    • AND BIDEN AND PRESIDENT ZERO thought he was a smart money man!!! ROFL!!!! Another reason President Zero has to go!!!!!!!!!!!!!

    • Mr. Ma2ts - seriously.... check out Both national parties are getting bought off. Apparently most of the elected officials no longer believe they have to do anything; just get a paycheck for holding office.

    • Sounds like the same recording Bernie Madoff played over and over. He should be locked up until he remembers, meanwhile his personal assets should be used to in some small way compensate the victims.

    • As the head of an investment firm, wasn't it his job to know where the investors money was going? Or did he just collect a salary for doing nothing?

    • How did he run a state? He didn't. Those in NJ know haw badly he performed while in office.

    • Who signed off? Nobody in an authoritative position had to sign off on transfers out of client accounts? "Somebody" just casually walked in, told a secretary to transfer a billion or so, out of other people's password protected accounts and they did it, without having it first in triplicate?
      Well, that solves it. Clearly, it must have been hackers. Clearly.

    • Corzine is laying, of course he is. He is responsible too.

      But this hearing is just to get him out-of-trouble, The government will say that congress drilled him and nothing was uncovered. The justice department will not prosecute because of all of the help in Democrat fund raising. Plus he is a fellow Democrat.

      Americans wake-up: Wall Street cheating is happening within the Democratic party right now under the Obama administration. The Obama administration will do nothing.

    • Where is the $... Follow the Yellow Brick Road... "DUH"! One has to look no futhure than GS!

    • Ha, screed. I love it.

    • No need for Saturday Night Live. I'm sure Jon Stewart and Steven Colbert will do a fine job filleting this testimony tonight.

    • Grade? "T" for typical

    • How did he run the state?...He brought the Govenorship
      1)were talking about a man who spent 10 Million of his own money to get a $150K a year job. Wall St. wiz kid?
      2) This guy orderes his state police driver to do 85 MPH on the parkway, then crashes, gets hurt bad.then goes onT.V to urge people to wear their seat belts..which he was not
      3) goes to the Middle East to visit the the troops need to see the Govenor of New Jersey?.Does that "make their day". I have a kid in the Marines, they don't want to see these politicans. They have nothing in common.
      Corzine is in everything for one reason and one reason only...Corzine...he knows were the money went. Now lets see if his freinds in Washington have the balls to get to the bottom of this mess. They can start by taking down that "Honorable Jon Corzine" sign

    • why does't America have the resolve to put away corporate criminals? I submit they are more destructive to our society than others.



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