◼ Last week, Jon Corzine testified before Congress that he had no idea that the company he ran into the ground, MF Global, had borrowed money from customer accounts. - Ed Morrissey/HotAir
Corzine might end up wishing that he’d just taken the Fifth instead. A witness directly contradicted his claim in Senate testimony yesterday, saying that Corzine not only knew about the raids on customer accounts, he ordered at least one of them himself
◼ CME chief: Corzine was aware of customer funds transfer
In a hearing before the Senate Committee on Agriculture, Nutrition and Forestry, Terrence A. Duffy, the chief executive of CME Group, said a senior female executive of MF Global told a CME auditor that Corzine — the former chief executive officer and chairman of the firm — was aware of a $175 million loan of customer money to a European affiliate of the now-bankrupt commodities brokerage.
“Mr. Corzine was aware because our employee had heard this, on the phone—‘Send back 175’ — and said he was aware of this loan,” Duffy told the Senate committee.
...Corzine has denied involvement in any illegal or improper movement of funds. In comments Thursday, he said his remarks could have led to a “misunderstanding” about the customer money. “I never directed anyone at MF Global to misuse customer funds. I never intended to, and as far as I’m concerned, I never gave instructions that anyone could misconstrue,” Corzine said Tuesday.
◼ Corzine's profiteering almost paid off - Timothy P. Carney/Washington Examiner @tpcarney
