Agricultural News
Ag Committee Chairman Frank Lucas Holds Committee Meeting to Prepare for MF Global Bankruptcy Hearing
Fri, 02 Dec 2011 15:51:36 CST
In a committee meeting today, Chairman Frank Lucas made the following comments regarding the upcoming hearing to examine the MF Global bankruptcy. This meeting was held to consider the issuance of a subpoena to compel the attendance of Mr. Jon Corzine to attend the hearing next week. The following is Chairman Lucas' opening statement.
"Next Thursday, this Committee will hold a hearing to examine the MF Global bankruptcy. The events that have unfolded since October 31st are unprecedented, and have resulted in the loss of property for many of our constituents, and a loss of confidence in the futures markets for many more.
It is this Committee's responsibility to shed light on the facts and circumstances surrounding the bankruptcy, and the efforts underway to recover customer funds and return them to their rightful owners.
The Committee has invited a comprehensive list of witnesses to that end. At this time, we have yet to receive confirmation of attendance by a critical and material witness.
Therefore, the purpose of today's meeting is to consider the issuance of a subpoena to compel the attendance of Mr. Jon Corzine before this Committee on December 8th. I assure you, the Ranking Member and I do not take this action lightly. However, we agree that his testimony is essential to fulfill our objectives on behalf of our constituents and to complete the hearing record."
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