December 19, 2011

The Financial Services Oversight and Investigations Subcommittee examined the decisions and events leading up to the collapse of MF Global during a hearing on Thursday. At the hearing, the Subcommittee heard from Jon Corzine, the former chief executive officer of MF Global, as well as regulators of the firm and the bankruptcy trustee. The Subcommittee hearing will also focused on the effectiveness of regulators in overseeing the firm's activities, the impact that MF Global's bankruptcy will have on its customers, and the decision by the New York Federal Reserve to grant MF Global primary dealer status. Since November, the Subcommittee has been at the forefront of investigating the downfall of MF Global. The Subcommittee has obtained hundreds of documents and other materials concerning MF Global and interviewed more than a dozen individuals. On December 7, the Subcommittee unanimously voted to issue a subpoena to compel Corzine's appearance.