Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
December 8, 2012 - MF Global Bankruptcy Hearing
December 8, 2011 - the House Agriculture Committee held a public hearing to examine the MF Global bankruptcy and reports that as much as $1.2 billion in customer funds have gone missing. The disappearance of customer funds from MF Global has badly shaken the trust that farmers, ranchers, and businesses across America place in futures trading.
The hearing marked the first public comments about the circumstances surrounding the bankruptcy from MF Global’s former CEO, Jon Corzine.
Members questioned Corzine and other witnesses about the events leading up to the bankruptcy and the whereabouts of customer funds.