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Breaking news former New Jersey governor senator head of Goldman Sachs and most recently -- -- destroyed MF global Jon Corzine says he will appear keyword -- -- before a house committee.
Investigating MF global this Thursday the big question though is will -- take the fifth.
And more drama could come later over on this senate side where his former colleagues led by Democrats have also subpoenaed Jon Corzine -- The ranking Republican member of that senate subcommittee.
Republican Pat Roberts of Kansas.
Senator good to see -- by the -- were you surprised.
That the decision was unanimous.
Two subpoena Jon Corzine.
Well absolutely not everybody knows we have to get to the bottom -- there's Amanda helped us get the -- -- -- Jon Corzine is a former senator.
However those titles don't mean anything.
I will tell you this is the first time that this -- committee has been -- anybody.
And it's the first time I think in history -- a former senator has been subpoenaed to testify before his former colleagues.
Now you say those titles don't mean anything forgive me and I think the vast majority of their of people I talk to industry particularly here in New York.
For disagreeing with you on that they say that it's impossible for guy was that powerful head of -- -- head of the state of New Jersey.
A member of the United States senate to have lost all his contacts.
By may have contact they're not going to be much before the committee we simply want to get down to what happened.
And that's why we issued a subpoena if you ask -- to come I think you just come on and we have to issue a subpoena.
Good question I mean that -- in I mean that doesn't.
You know both Democrats and Republicans on the committee want to get to the bottom of this.
We take it very serious as we're speaking farmers have their accounts frozen and -- risk management banks no see no fertilizer.
-- -- and a world of trouble.
-- that certainly transcends.
-- position person who's now.
We should mention by the way just so that folks know we're talking about it's the agricultural committee.
That has subpoenaed him and it's because MF global is overseen by the commodities commission CFTC that's right which is why the -- got involved go ahead.
You bet we're gonna get to the bottom -- at it -- -- Hearing reports that his own board his own risk management officer said -- goodness -- don't be investing and foreign and foreign debt.
You know countries like Italy Spain Portugal so on and so forth advised against it.
And I but he went against that advice went -- indebted anyway so if you're gonna find the money.
And order so the trustee been paid back farmers and ranchers and business people.
You know the ranch is still on fire here.
And there's a lot of people -- the risk management bank have their assets frozen and that's not good for America not good for farmers not good for efforts to feed our country.
-- I don't know how a religious reader Charlie Gasparino from Fox Business -- but he's he's got some pretty good sources.
And he just has an exclusive saying -- the MF global money goodbye his sources tell him have you heard anything about that one point two billion dollars.
Well we've found 200 million avenue -- in great Britain and that is perhaps the the -- could use.
Some of the funds that they could find.
That's still there.
And then we need to follow the you know we need to follow the well all of the wires that go basically everywhere it looks like it and CIS you know.
And out of itself you know we just gotta find the money we got a -- where it goes who's responsible.
I think there's probably.
Cause for a criminal investigation probe I think that's already taking place.
And so you know let us get to the bottom of -- CFTC is conducting an investigation.
I think probably the FBI and the Justice Department are involved.
This is since this is no lines -- overtaken this -- serious.
Yeah well and and and also we should mention there's a possible civil case the MF employees or it may be suing you -- what very quickly we have to wrap senator but.
What happens if he says nothing if you just pleads the fifth.
Well I don't take effect.
When I was -- have an empty chair there was Corzine on it that I I don't think he'll do that if he comes to us who just pleased that they have to.
I don't think he's gonna do that to -- former colleagues that's going to be a real embarrassment because it.
Senator Pat Roberts thank you very much for coming -- sir appreciate it you.
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