Jon Corzine appears before Congress for the third time in one week to answer questions about MF Global Holdings' bankruptcy and the loss of $1.2 billion of customers' money.
This time, Corzine appears before the House Financial Services Committee alongside Bradley Abelow, Chief Operating Officer of MF Global. Previously, Corzine testified before both the House and Senate Agriculture Committees, which have jurisdiction over much of the commodity trading done by MF Global. Many who lost money are farmers.
In the second panel, the committee hears from federal regulators tasked with preventing incidents like the one at MF Global.
On October 31, 2011, MF Global Holdings Ltd. declared bankruptcy. Corzine, the former governor and Senator of New Jersey, resigned as CEO of MF Global on November 4th.