Senator Debbie Stabenow, Chairwoman of the Senate Agriculture Committee, is stepping up her committee’s investigation of the MF Global bankruptcy. Conducting separate investigations are the FBI and Department of Justice. They want to know why approximately 1.2-billion dollars is unaccounted for. This Thursday the Senate Ag Committee will hear from top officials at the CFTC and the SEC concerning their oversight of MF Global. Then on December 13th, the Senate Ag committee has called on former MF Global CEO Jon Corzine to testify.
Stabenow says – anyone engaged in wrongdoing in this matter must be swiftly held accountable. Since MF Global declared bankruptcy, huge amounts of the firm’s customers’ money has gone missing. The company’s customers consisted of many farmers, ranchers, small business owners and other middle class Americans. Customer accounts have been frozen and many customers still cannot access their own money.
MF Global CEO Jon Corzine will have company when he testifies. MF Global customers are also being invited to testify at the December 13 hearing.