Obama’s “go to guy” plum forgot.
Via Business Insider.
Former MF GlobalCEO Jon Corzine will speak in front of a House panel today.
His testimony has just been released.
You can download it here.
One line that stands out (via @djfxtrader): “I simply do not know where the money is.”
It’s also big news that Corzine WON’T be pleading the 5th Amendment today when he testifies, which means today’s hearing should be interesting.
His opening paragraph:
Recognizing the enormous impact on many peoples’ lives resulting from the events surrounding the MF Global bankruptcy, I appear at today’s hearing with great sadness. My sadness, of course, pales in comparison to the losses and hardships that customers, employees and investors have suffered as a result of MF Global’s bankruptcy. Their plight weighs on my mind every day – every hour. And, as the chief executive officer of MF Global at the time of its bankruptcy, I apologize to all those affected.
We’ve embedded the whole thing here.
He only managed to cough up $200 million of the ‘misplaced’ funds, so far. The rest is probably in an offshore bank account under an assumed name.