Sunday, March 4, 2012

Jon Corzine Congressional Hearing about MF Global Part 1

Jon Corzine Congressional Hearing about MF Global Part 1 Video Clips. Duration : 18.97 Mins.


www.StockMarketFunding.com Jon Corzine Congressional Hearing about MF Global Part 1. WASHINGTON (Reuters) - Former MF Global chief Jon Corzine apologized to those harmed by the brokerage firm's collapse, but said he didn't directly manage customer funds and doesn't know where the missing money is. Corzine, in his first public appearance since the firm filed for bankruptcy on October 31, told lawmakers that it is his responsibility to face their questions. Wearing a somber dark suit and armed with an accordion file folder of documents and a highlighter pen, Corzine said his "sadness" pales in comparison to MF Global's customers, employees and investors. "Their plight weighs on my mind every day -- every hour," Corzine, a former US senator, told the House Agriculture Committee after being sworn in by committee Chairman Frank Lucas. "I simply do not know where the money is, or why the accounts have not been reconciled to date," he said. Corzine's contrite but defensive remarks are his first since he resigned from the firm in early November. Revelations of massive bets on European sovereign debt caused markets to lose confidence in the firm. The search for hundreds of millions of dollars in missing customer funds has sent reverberations through the farm belt and trading floors, and has attracted the attention of the FBI and federal prosecutors. Thousands of customers have had their money frozen. "It appears to me that nobody has learned a thing from what's gone on here. Wall ...

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