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Cmte Financial Services (R)
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Subcommittee To Vote On Corzine Subpoena

Washington, Dec 2 -

The Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, will meet on Wednesday, December 7 at 3 p.m. to consider a subpoena for Jon Corzine, the former chairman and CEO of MF Global. The Subcommittee meeting will take place in room 2128 Rayburn.

Subcommittee Chairman Neugebauer said, “Mr. Corzine is the only person who can provide a thorough account of the investment decisions that led to MF Global’s collapse and the activities at MF Global in the days and weeks leading to its collapse.

“For the past week, we led a good-faith effort to obtain his testimony voluntarily.  Unfortunately, it has become clear that is not possible so the Subcommittee will meet to consider the issuance of a subpoena.”

The Subcommittee has already scheduled a hearing on December 15 about the bankruptcy of MF Global.  The Subcommittee is focusing its investigation on decisions and events leading up to the collapse of MF Global, the effectiveness of regulators in overseeing the firm’s activities, and the impact MF Global’s bankruptcy will have on its customers.