House Agriculture Subpoenas Jon Corzine

Statement from Committee Chair Lucas and Ranking Member Peterson...
The House Agriculture Committee, chaired by Rep. Frank Lucas (R-OK) today voted unanimously to subpoena Jon Corzine, CEO of MF Global, to attend a full committee hearing on Dec. 8 to examine the bankruptcy. Rep. Lucas and Ranking Member Collin Peterson (D-Minn) issued a joint statement about the decision, calling the circumstances surrounding the bankruptcy "unprecedented." Read Jerry Hagstrom's report on MF Global and US agriculture here.

Rep. Lucas & Peterson's statement:

"The circumstances surrounding the MF Global bankruptcy are unprecedented. Many of our constituents have lost funds and many more have lost confidence in futures and derivatives markets, which are under the jurisdiction of our Committee.

On December 8 the House Agriculture Committee will hold a hearing to examine the facts and circumstances that led up to the bankruptcy, and the efforts underway to recover customer funds and return them to their rightful owners. To that end, Jon Corzine’s testimony is critical to fulfill our objectives on behalf of our constituents, which is why we have taken this extraordinary step to ensure his attendance.

It is our hope the hearing next week will lay the groundwork to address the situation and begin to restore confidence."