From Jon Corzine’s prepared testimony before Congress on the collapse of MF Global of which he was CEO:
I simply do not know where the money is.
Jon Corzine voted “Yea” on Sarbanes-Oxley.
My guess is that he’s going to regret that vote. And waiving his Fifth Amendment rights.
MF can’t be brushed off like Lehman or Bear Stearns. As a primary dealer MF was required to be rock solid financially, and the sheer speed of its implosion means the Fed is virtually certain to be taking a really hard look at ALL the dealers. This sort of thing can’t be allowed to slide without significant consequences.