Corzine will testify before House Ag Committee Thursday
December 06, 2011 | 07:29 PM
Former MF Global CEO Jon Corzine has responded to a subpoena from the House Agriculture Committee that he will testify about the bankrupt firm on Thursday, and the Senate Agriculture Committee voted unanimously to subpoena Corzine for a hearing on Dec. 13.
A spokeswoman for House Agriculture Committee Chairman Frank Lucas, R-Okla., confirmed that Corzine would testify.
The Senate Agriculture Committee in a brief meeting in the Capitol today voted to subpoena Corzine. Senate Agriculture Committee Chairman Debbie Stabenow, D-Mich., said earlier that Corzine had not responded to a request that he testify.
“It’s important that citizens come forward and testify when asked by our committee, especially in a matter this serious,” Stabenow and Senate Agriculture ranking member Pat Roberts, R-Kans., said in a joint statement after the vote.
“The committee’s bipartisan actions today demonstrate our commitment to understanding what happened to cause the extraordinary collapse of MF Global,” the statement said. “We will continue to work to see that the futures market remains a valuable tool for investors, farmers, ranchers and small businesses and to see that the missing funds are returned to their rightful owners.”
Senate Finance Committee Chairman Max Baucus, D-Mont., said in a news release that he had voted for the subpoena because “The livelihoods of honest, hardworking farmers and ranchers are stuck in limbo right now because the system they trusted let them down. It’s not right. These folks need to be made whole, and they deserve answers and accountability to make sure something like this never happens again.”
A spokeswoman for House Agriculture Committee Chairman Frank Lucas, R-Okla., confirmed that Corzine would testify.
The Senate Agriculture Committee in a brief meeting in the Capitol today voted to subpoena Corzine. Senate Agriculture Committee Chairman Debbie Stabenow, D-Mich., said earlier that Corzine had not responded to a request that he testify.
“It’s important that citizens come forward and testify when asked by our committee, especially in a matter this serious,” Stabenow and Senate Agriculture ranking member Pat Roberts, R-Kans., said in a joint statement after the vote.
“The committee’s bipartisan actions today demonstrate our commitment to understanding what happened to cause the extraordinary collapse of MF Global,” the statement said. “We will continue to work to see that the futures market remains a valuable tool for investors, farmers, ranchers and small businesses and to see that the missing funds are returned to their rightful owners.”
Senate Finance Committee Chairman Max Baucus, D-Mont., said in a news release that he had voted for the subpoena because “The livelihoods of honest, hardworking farmers and ranchers are stuck in limbo right now because the system they trusted let them down. It’s not right. These folks need to be made whole, and they deserve answers and accountability to make sure something like this never happens again.”