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Independent counsel for 'incestuous' MF Global probe?

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    Are political ties hindering any progress in the MF Global investigation?

  • Duration 5:17
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His former democratic New Jersey governor Jon Corzine getting special treatment.

Corzine ran the brokerage firm and have global until -- -- -- global somehow managed to lose one point six billion dollars of customer money.

No one knows where that money went now that's pretty I don't you agree.

-- the dust department justice says they are now invest gain by Republican Carson Michael Graham wants to -- to step aside why.

Cashman Grimm joins is getting you -- and I must admit I'm a little bit surprised that they want DO chase to step aside.

Because you're a former FBI.

Agent yourself -- Well I have a 100% faith in the FBI what what the problem here is I think it's more.

With where the public stands with the attorney general Eric Holder.

And I think an independent counsel is what we need the FBI would still be doing the investigation I think -- I'm sure they're doing a very good job but.

The in the the FBI doesn't actually prosecute the case they gather evidence -- and -- have to turn that over.

To the prosecutors so that's why we're asking for your special prosecutor independent counsel.

I would suspect though that if it weren't and -- and the FBI is investigating but I suspect that it wouldn't send us would be.

The DOJ prosecuting him but serve a subset of the of the Department of Justice which would be career prosecutors in eastern district got we have.

Of New York for the southern district of New York where they have career prosecutors is that something that you -- I'll find acceptable.

Well I think.

This it's it's bigger than that the problem here is that you and Jon Corzine.

He's he's seen by most Americans -- Republicans and Democrats is someone that has.

Access.

All the way at the highest levels to the president I mean even this past cycle for the beginning of January 2012 he's listed as one of the largest -- who is.

For the Obama administration.

This is after -- is under investigation so it's things like that that I think jeopardize.

Weight people feel in America with the confidence in our system.

As well as the integrity of our markets so that's the reason why I'm calling for an independent counsel when when you look at the history.

-- Jon Corzine a lot of people feel he's being given special treatment since since he started with MF global it's one of the reasons why they had special status.

-- -- to be a dealer in the first place.

Why should note that dad former governor Jon Corzine at least according to reports has raised 500000 dollars for the Obama reelection campaign so he would tell -- is significant.

And daughter fund raiser for the for the -- -- I'm curious idea -- is this money I mean how does this money.

Disappear and nobody knows where it is -- It does and I and I think at this point.

The money has been found but.

Keep in mind that doesn't mean it has been recovered which is another reason why I think we need independent counsel because of the -- the entire bankruptcy.

We structured and I think that's a problem in and of itself because some of this money was taken as collateral.

And shipped overseas.

And now these poor customers that were never creditors -- -- they were customers and then when he was posting protected.

In segregated accounts it was illegally taken out of those accounts and sent this collateral and now it's overseas.

It was taken as collateral and it could take years we learn from Bear Stearns and from Lehman Brothers.

It could take 234 years if not more to fight with foreign banks now to try to get that money bank.

Putting these customers at a massive disadvantage and really in an untenable and unacceptable position which again goes to the -- right.

Of the integrity of -- markets and I think that's why independent counsel here is absolutely warranted.

Well you raise a question the -- overseas.

That was permitted by rule by the CFTC.

Which that the chairman of that and Gary Gensler worked at Goldman Sachs went -- went governor of Prez senator car sentiments an awful awful.

Cozy group of people of Goldman Sachs and is -- money we.

I mean I guess that to the extent we want -- -- you know at least have the appearance of having no -- salad make much use if we could remove you know remove this.

Any any chance of people be suspicious of investigation.

But when you're hitting the nail on the head I mean you look at the relationship.

Between Jon Corzine and and chairman Gensler and that in and of itself is enough reason to make people suspicious.

I look at it this way where's the down side.

For the attorney general in light of the fact that he handled fast and furious so terribly.

It in light of that that that the someone threw the bottle.

We we can we'll get to GSA scandal all of these things.

He should be more than happy to turn this over to independent counsel and give people think that -- that -- semblance of that there isn't any impropriety here.

Eight I create this -- -- so which is a problem I do -- -- career prosecutors you know farther down the command -- -- that every day -- work really hard to do really a straight up job and a really good shot past is that I've been up against many of them over the years never -- But I do agree that with all the sort everything being connected that it really does.

Does not and -- act -- act and I can understand why people would be suspicious.

Having the Justice Department and policy what happens fashion she was there.

An anti bush and I've worked with -- southern district they are top notch isn't district did the best of the best I'm worried about much higher than that we took about the administration itself.

I don't think you sir thank you.

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