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I never intended to break any rules -- certainly.
Would never intend to direct or.
Have segregated funds moved.
That was former New Jersey governor Jon Corzine in testimony before the house agriculture committee.
About his work is the CEO of now defunct.
Commodities trading firm MF global.
Which turns that is missing about one point two billion dollars of its investors' money pleading in confidence before the congress.
And this is power play welcome back Internet so good to have you here is who would still have -- -- and Christie -- with -- still.
Who are helping us sort out all of this and as -- just -- the balls and the strikes politically.
But you know we don't know much about in Washington is money we know about spending yet it's good Washington is really good -- spending -- and collecting it.
But in terms of how it's made or where it comes from we have some struggles that's why we talked to Smart people.
Like Brenda -- she's the Fox News senior business correspondent and she's the host as you know of Bulls and Bears which is on the Fox News Channel 10 AM every Saturday morning is a great show I watch it I know you do to Internet Brenda welcome back to power -- Glad to -- here.
OK so Jon Corzine.
Is used to be the head of Goldman Sox.
Used to be a wise man Mandarin of the Democratic Party when it came to matters fiscal.
And matters economic.
And yesterday he appeared before the house agriculture committee because they regulate the trading commodities.
And basically said he stunk at his job and that was his defense did I did I get that about right.
Didn't have it just about any truly interesting about it I think was that.
He told -- nothing but at least he said something he didn't go up there and plead the fifth.
Which we haven't heard again and again and these kind of -- investigations.
And you know on down get up and just say.
It basically my lawyer tells me that I might incriminate myself if I say anything.
He did get up and say -- shoot I don't know where this money went.
Look at in the anxious he's like I'm at now headed here doesn't love guru here somewhere I found that -- where that.
If he was my very he was my governor.
I gotta say our current one is is a lot more effective and a lot funny here -- But that's good pickup Derrek Lee that's bipartisan that's true if you want yeah.
I can't find some humor in this entire -- I don't know where you find it but.
But -- he did seem surprised.
In some of his answers and you know it at one point it it's the -- and he is story.
It it came about that he told his staff well where is the money somebody here must have made a mistake.
Go back they were doing -- deal he should go back and check your math.
And at that point they couldn't find the money so they had to blends -- -- -- counts and that's where they gotten to big trouble and that's where they had to actually go to the SEC and say.
You know we had to use customer money and that's just plain that you don't do it acts.
-- is somebody's somebody likely to go to jail here.
You know it's it's hard to know I mean this is basically.
What -- all Bernie dead.
Without telling anybody about it but that was a whole -- this is this is Bernie Madoff yeah Afghanistan you had a no no not every weekend pretty.
But but -- his was a Ponzi scheme I mean I I don't mean to -- To.
You know did -- compare them.
In in anything more than he was using.
Customer money to pay off and other funds.
But there was a mix saying.
-- mixing somewhere of customer money and and other money and then there.
Our real -- -- that have been made and and regulations that you don't do that.
And so the whole company had to go bankrupt.
George Soros who is.
You know -- -- -- -- that's.
The richest men.
In the world and one of the most liberal men made a lot of money off of this trade because -- what happened was some of the money it was in the Italian bonds and he said.
Hey you know I think I'm gonna pick this up at a bar again.
Because he did make a profit on -- he bought it at a bargain.
He's not too worried about the whole -- thing so we you know we learned something about that but you're right Corzine said basically.
I didn't do a very good job I made some mistakes and they were big ones.
Okay what can we expect to see tomorrow.
On the big show.
I'd gotten you on our big.
If you look -- -- yeah yeah after I can think of no issue bigger yeah you're talking about -- -- gonna ask the question.
Who -- -- what would make more jobs.
Or are and basically the whole pay holiday.
Which one would do we're not -- up politics we're just gonna ask for an economic.
Where do you get more jobs we tried it -- it take -- you know you guys talk politics so well it's we can't compete against you.
So we're -- his take all politics out of it and and ask that question and then we're gonna have.
Four stocks that will make you some money in the next in the next year so.
Brenda -- we will be watching thank you somehow trying to say -- -- -- -- have a greater or lesser.
OK so at first I was.
Christie -- about whether the Jon Corzine saying could stick the the Republicans had -- with the video of him.
Of Vice President Biden who has a gift for overstatement.
But he is literally the first person and I called me is this -- I know saying all this is like a late night comedy like extravaganza like really that guy.
And I thought you know there's no this doesn't have legs beyond that it's a punchline than it -- -- that I saw as testimony yesterday.
And he was like.
Had he did not look.
Reassuring he looked like he was a mess is is there is the real vulnerability for the administration here.
Know there's a politically for Jon Corzine.
And now I think that's what we have a problem in Washington in in congress I would say with you know dealing with Wall Street irresponsibility.
I think that you know Jon Corzine's.
Actions yesterday and you know throughout this this story stand in stark contrast to see somebody like Elizabeth Warren's been really able to stand up to Wall Street and fight for -- mean that one of the biggest stories this week obviously was.
From yesterday was.
Congress voting down dean nomination average -- -- to be the head DC -- This is the -- -- -- this is the guy who's a former attorney general of Ohio the president wants to lead.
-- lending regulatory body that was created under the Dodd-Frank bill Republicans think that he is.
Too liberal too far too aggressive -- will actually hurt lending.
Democrats say that he's the kind of watchdog that they need Republicans are filibustering in the now Democrats are pressuring the president to make a recess appointment ever.
Christmas attack so I think that it you don't look that.
Republicans are going to try to act to tie a the administration to -- and -- Corzine I applaud -- for being able to bring injured -- to the terror.
Declared the president is crosswise on the economy.
And he's saying I'm doing everything I -- and if he's saying that it one of his sources depending on what comes out of this is Jon Corzine for fixing the economy and was going to be a treasury designate.
You've really got to wonder what the president's thinking about the account and this was -- being discussed his policies forget I mean you see if this goes south for Corzine you really gotta wonder that this could be tipping point -- the president over a really tight election let me.
Let me let me hold forth.
And say this fit to -- altogether.
With the attorney general.
In in in stark in -- crawfish.
On the gun running stuff and these other things.
And this Occupy Wall Street folks and liberals -- very upset that no one has been.
For the economic meltdown.
Power play predicts that the Justice Department is going to find some scalps.
Had MF global before this is all done.
It will help the attorney general it will help the president.
And it will also help satisfy.
Who who want some blood.
Do you guys agree disagree quickly and now.
I I completely agree because the 1% and the 99% of pissed off as hell it's hard -- It's just that so you can talk like that because on the Internet people it's okay don't worry about it that's all right it's all right we'll put NC seventeen don't worry about -- Christie for thank you so much -- always made it -- always a pleasure.
We do not have a word from Charles today because he was not on the panel I'm sorry you know who out there and mrs.
power play who's upset when we don't get here our word from Charles.
I'm sorry he's not on.
But hopefully we'll have.
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