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Corzine gets subpoena from House panel

Dec. 7, 2011 at 5:28 PM

WASHINGTON, Dec. 7 (UPI) -- A House subcommittee voted unanimously Wednesday to subpoena former New Jersey Gov. Jon Corzine for questioning about MF Global.

Rep. Randy Neugebauer, R-Texas, chairman of the Oversight and Investigations Subcommittee of the House Financial Committee, said Corzine refused a request to appear at a hearing Dec. 15 on the collapse of the brokerage firm, Politico reported. Rep. Michael Capuano, D-Mass., said the subpoena is "unfortunate, but necessary."

Corzine, who was chief executive officer of Goldman Sachs before getting involved in politics, became head of MF Global after he lost a bid for a second term to Republican Chris Christie. He resigned after the company filed for bankruptcy Oct. 31, a move that cost its customers an estimated $1.2 billion.

"We want to find out what happened to the customers' money," Neugebauer said "We want to know what was going on in the regulatory world … and we also want to know what was going on inside the corporation. We think we need to understand that."

Corzine has received subpoenas from two other congressional panels.

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