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Jon Corzine Receives Third Subpoena From Congress; Update: ‘I Simply Do Not Know Where the Money Is’

By Doug Powers  •  December 7, 2011 04:40 PM

**Written by Doug Powers

Under congressional rules I believe he’s now qualified to get his fourth subpoena for free.

From Politico:

The hits just keep coming for former New Jersey Gov. Jon Corzine.

A House Financial Services subcommittee unanimously agreed to subpoena the Democrat for questioning about his role in the collapse of the now-bankrupt brokerage firm MF Global.

“We want to find out what happened to the customers’ money,” said Rep. Randy Neugebauer (R-Texas), chairman of the Oversight and Investigations Subcommittee. “We want to know what was going on in the regulatory world … and we also want to know what was going on inside the corporation. We think we need to understand that.”
This is the third congressional subpoena in less than a week for the former New Jersey governor, who was knocked out of office by Chris Christie in 2009 and whose name has been floated as a potential Treasury secretary candidate for the Obama administration.

If Rep. Neugebauer wants to know what happened, Jon Corzine is probably the last person he’ll want to ask. Corzine may well end up going Solyndra exec on steroids and take up residence behind the Fifth Amendment when he appears — if anybody can find him, that is.

Update: What a surprise… Corzine is expected to take Five at his first hearing tomorrow.

Update II: While he may invoke the Fifth Amendment in some of the lines of questioning, Corzine will still deliver a prepared opening statement, which is here (PDF). The CliffsNotes version: “I simply do not know where the money is.”

**Written by Doug Powers

Twitter @ThePowersThatBe

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