On October 31, 2011, MF Global Holdings Ltd. declared bankruptcy – the eighth largest bankruptcy in U.S. history. Since then, federal officials have been unable to find a significant amount of the firm’s customer’s money. It is currently estimated that up to $1.2 billion in customer funds is missing. The Senate Committee on Agriculture, Nutrition and Forestry has jurisdiction over the sort of commodity trading that MF Global was engaged in, and the hearing on December 13 will be a continuation of the Committee’s investigation into the firm’s bankruptcy. Chairwoman Debbie Stabenow has called on former MF Global CEO, Jon Corzine, to testify. Other witnesses are to be announced.
The Hill reports “Lawmakers subpoena Jon Corzine to testify about MF Global collapse.”
Another elected official too busy making money to be concerned about official corruption occurring in his state at the expense of the people.
Related, click here.