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Thursday, December 8, 2011

'Corzine Testifies in MF Global Investigation'

C-SPAN's description:

Washington, DC
Thursday, December 8, 2011

The House Agriculture Committee questioned former MF Global CEO Jon Corzine on the bankruptcy of the financial firm and a dispute over $1.2 billion in missing funds.

According to the Committee's website, the purpose of the hearing was "to examine the facts and circumstances that led up to the bankruptcy, and the efforts underway to recover customer funds and return them to their rightful owners."

The former Senator and New Jersey governor is at the center of a dispute over $1.2 billion in missing customer funds. The trading firm’s bankruptcy is the 8th largest in the nation's history.

Many U.S. farmers invested with the firm. A court appointed trustee estimates that missing customers’ funds could be as much as 1.2 billion dollars.

Federal regulators are still investigating the missing client funds from the futures side of the MF Global.

Corzine has also been called by the Senate Agriculture Committee to testify at a December 13 hearing that aims to learn Corzine's role during his time with the firm.

Click here to watch Jon Corzine's testimony.

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