Wednesday, December 7, 2011

MF Global: Corzine gets a third Hill subpoena; Will either Plead the Fifth or Feign Lack of English Comprehension

Expect either "On the advice of my counsel, I invoke the privilege afforded to me by the Fifth Amendment of the U.S. Constitution and respectfully decline to answer the question"  or "¿Qué?"

It appears that many of the former Senator's Congressional BFF's want to get together and chat.
From Politico:
The hits just keep coming for former New Jersey Gov. Jon Corzine.
A House Financial Services subcommittee unanimously agreed to subpoena the Democrat for questioning about his role in the collapse of the now-bankrupt brokerage firm MF Global.

“We want to find out what happened to the customers’ money,” said Rep. Randy Neugebauer (R-Texas), chairman of the Oversight and Investigations Subcommittee. “We want to know what was going on in the regulatory world … and we also want to know what was going on inside the corporation. We think we need to understand that.”

Neugebauer said Corzine had refused to appear voluntarily at the subcommittee’s scheduled Dec. 15 hearing. Rep. Michael Capuano (D-Mass.), the panel’s top Democrat, called the subpoena an “unfortunate, but necessary” move.

MF Global filed for bankruptcy Oct. 31 and Corzine’s resignation followed not long after. The firm is now under federal investigation to determine how its customers’ funds disappeared – a court-appointed bankruptcy trustee has said as much as $1.2 billion may be missing.

This is the third congressional subpoena in less than a week for the former New Jersey governor, who was knocked out of office by Chris Christie in 2009 and whose name has been floated as a potential Treasury secretary candidate for the Obama administration.

The Senate Agriculture Committee, led by Sen. Debbie Stabenow (D-Mich.), and the Republican-led House Agriculture Committee voted unanimously within the last week to subpoena Corzine. U.S. farmers had invested large amounts of money with the collapsed firm....MORE