For Immediate Release
Contact: Carol Danko, 202-225-3371
Rep. Grimm Leads 64 House Members Calling on A.G. Holder
to Appoint Special Counsel in MF Global Investigation
Send letter to DOJ asking for outside counsel to restore confidence in government
WASHINGTON, DC – Today, Representative Michael G. Grimm (R-NY) led 64 of his House colleagues in sending a letter to Attorney General Eric Holder, asking him to appoint an independent or special counsel to investigate MF Global. Many unanswered questions remain regarding what caused the massive shortfall in segregated customer accounts prior to MF Global’s bankruptcy. There are concerns that special treatment was granted to MF Global due to CEO Jon Corzine’s relationships with regulators. In addition, Jon Corzine has recently bundled over $500,000 for President Obama’s re-election campaign. At a time when the administration is under fire for the handling of Operation Fast and Furious, Solyndra, and the GSA scandal, a special counsel would remove even the perception of political favoritism by bringing in an outside special counsel.

“I’d like to thank my colleagues who joined me in sending an important message to Attorney General Holder that a special counsel is essential in the MF Global investigation. Given the perception of special treatment of CEO Jon Corzine and this administration’s record of waste, fraud and abuse; I believe that a special counsel is needed to restore public confidence in our government and in the integrity of our markets. It is in the best interest of the Obama administration to show the American people and the many victims of MF Global, that when it comes to justice, there will be no playing favorites and everyone will be treated equally under the law,” said Rep. Grimm.

“At a time when Americans’ confidence in their government has been tested time and again by stories of waste and misconduct by government officials, it is vital to demonstrate that Congress is taking the appropriate steps to ensure the public’s faith has not been misplaced. Concerns have been raised that special treatment was given to MF Global because of former CEO Jon Corzine’s relationships with regulators, the outcome of which led to thousands of hard working Americans feeling cheated by MF Global’s actions. Bringing in an independent counsel would remove any perception of favoritism and help ensure a thorough investigation of the claims made against MF Global,” Rep. Bill Huizenga (R-MI), member of the House Financial Services Committee.

“This issue has conflict of interest written all over it. It just doesn’t pass the smell test. Jon Corzine’s relationship with the President and his administration severely complicates this case. Attorney General Holder should do what is right for the victims of this massive bankruptcy and appoint a special counsel immediately. Those who were affected by MF Global’s collapse deserve and investigation that is free of conflict and speculation,” said Rep. Bob Turner (R-NY).

“The CCC salutes Rep. Grimm for spearheading his initiative to appoint an Independent Counsel in the MF Global case. It is paramount that lawmakers on both side of the aisle to support his proposition to bring about justice to the 38,000 customers of MF Global who have had over $1.6B of their property taken from them and to restore some much-needed integrity to the American financial system,” said James Koutoulas, President of the Commodity Customer Coalition (CCC).

“I appreciate the efforts of the members of Congress, particularly Congressman Michael Grimm, who have taken an interest in righting this wrong. A wide cross-section of the economy has suffered as a result of MF Global’s bankruptcy, including farmers, ranchers, private investors, small business owners, as well as major corporations and financial institutions. Perhaps more importantly, it has called into question the confidence that everyone needs to have in the integrity of the financial markets and the regulatory system, which is supposed to be in place to protect the public,” said Stanley Haar, Senior Advisor to the Commodity Customer Coalition (CCC).

The letter was signed by GOP Representatives Michael Grimm, Bill Posey, Stevan Pearce, Scott Garrett, Timothy Johnson, Edward Royce, Pete Sessions, Peter Roskam, Donald Mazullo, Walter Jones, Patrick McHenry, Michele Bachman, Thaddeus McCotter, Lynn Westmoreland, Blaine Luetkemeyer, Bill Huizenga, Sean Duffy, James Renacci, Thomas Rooney, Bob Gibbs, Stephen Fincher, Scott Tipton, Martha Roby, Tim Huelskamp, Randy Hultgren, Vicky Hartzler, Robert Schilling, Michael Turner, Ann Marie Buerkle, Joe Walsh, Trey Gowdy, Dennis Ross, Mike Kelly, Steve Chabot, J. Randy Forbes, Trent Franks, Jim Jordan, Sandy Adams, Benjamin Quayle, Sam Graves, Jeff Miller, Denny Rehberg, Joe Wilson, Marsha Blackburn, Mario Diaz-Balart, Jim Gerlach, Phil Gingrey, Charles Boustany, Gus Bilirakis, Paul Broun, Lynn Jenkins, Leonard Lance, Aaron Schock, Mark Amodei, Lou Barletta, Charles Fleischmann, Cory Gardner, Bill Johnson, Adam Kinzinger, Jeffrey Landry, Alan Nunnelee, Jon Runyan, Robert Turner, Allen West, and Kevin Yoder.

Rep. Grimm is a member of the House Financial Services Committee and served over a decade in the FBI, working deep undercover fighting financial crimes on Wall Street.

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mg global letter to ag holder final signed (c)

Louis Freeh has no problem filing for over 20M in fees, but can’t manage to file Schedules of Assets and Liabilities more than 6 months after the bankruptcy (standard time is 90 days).

Full objection is here:
Objection to Extension

In support of Congressman Grimm’s drive to collect the signatures of his colleages on Capitol Hill, I updated our White Paper to reflect the developments of the last several months.  Please distribute this widely to help aid those who are seeking information on the MF Global collapse.

DOWNLOAD THE WHITE PAPER

A lot of people say the American legal system is broken and that our government doesn’t work for the people, but for giant corporations and Wall Street.  And a lot of the time, it seems that those people are right. But, in response to the system failing in MF Global, a handful of volunteer commodity brokers, traders, and farmers like Dean Tofteland, a soybean and hog farmer from Laverne Minnesota, formed the Commodity Customer Coalition. And together, we have taken on a slew of $1,000 dollar an hour bankruptcy lawyers, JPMorgan Chase who received hundreds of millions of dollars of customer funds, and now our political system, and shown that our system can still work to help ordinary American people when we band together for the right reasons.

Today we have almost 30 of our representatives together, taking a stand for the 38,000 MF global customers who are still without over $2 billion dollars of their hard earned property that they trusted to 200 years of law and Jon Corzine to protect. I’ve heard a lot of cynics dismiss their support as partisan since they’re all Republicans. But I can honestly say, that when I’ve spoken to most of these men and women, I had no idea what party they belonged to, and appealed not to their politics, but to their love for America, the greatest country in the world. Because, make no mistake. Crimes were committed at MF Global. And, these Americans who signed this letter requesting an independent counsel be appointed 6 months after the fact just took the first real steps to showing the world that it doesn’t matter if you used to be CEO of Goldman Sachs, and a governor, and a senator, and one of the President’s biggest donors that If you commit a crime in America, you will meet justice.

So now I ask who will be the first Democrat to join us and have the courage to stand up and do the right thing, and forget for a minute the divisiveness and partisanship that we will be bombarded with this election year? Who will take a stand for justice and the integrity of the American financial system?

Will it be Gary Ackerman from New York who’s retiring and has nothing to lose? Or, Mike Quigley from my home of Chicago or John Garamendi from California who were kind enough to talk with me about MF Global late last night in the hallways of a house office building? Or maybe Heath Shuler, who’s a good ole SEC boy from North Carolina? I have no idea who it will be, but I know that someone will prove my faith in my country correct and I can’t wait to shake his or her hand.

May 9, 2012

For Immediate Release
Contact: Carol Danko, 202-225-3371

***MEDIA ADVISORY***
Rep. Grimm Leads Colleagues in Calling for
an Independent Counsel in MF Global Investigation
Congressmen, MF Global Victims call on AG Eric Holder to appoint outside prosecutor

WASHINGTON, DC – Rep. Michael G. Grimm (R-NY) will be joined by Members of Congress and MF Global victims calling on Attorney General Eric Holder to appoint an independent counsel to investigate MF Global. Many unanswered questions remain regarding what caused the massive shortfall in segregated customer accounts prior to MF Global’s bankruptcy. There are concerns that special treatment was granted to MF Global due to CEO Jon Corzine’s relationships with regulators. In addition, Jon Corzine has recently bundled over $500,000 for President Obama’s re-election campaign. At a time when the administration is under fire for the handling of Operation Fast and Furious, Solyndra, and the GSA scandal, an independent counsel would remove even the perception of political favoritism by bringing in an outside special prosecutor.

WHO: Congressman Michael G. Grimm (R-NY)
Congressman Bill Posey (R-FL)
Congressman James Renacci (R-OH)
Congressman Allen West (R-FL)
Congressman Tim Huelskamp (R-KS)
Congressman Bob Turner (R-NY)
Congressman Mike Kelly (R-PA)
Other Members of Congress
James L. Koutoulas, President,  Commodity Customer Coalition (CCC)
Stanley Haar, Senior Advisor, Commodity Customer Coalition (CCC)
Keith Banta, Commodity Broker
MF Global Victims/ Members of the CCC

WHEN: Today, May 9, 2012
11 am

WHERE: House Triangle
Between U.S. Capitol & Cannon House Office Building

Current cosigners of the letter include Reps. Grimm, Garrett, Posey, Jim Jordan, Sessions, West, Hartzler, Gowdy, Tim Johnson, Huelskamp, Pearce, Fincher, Tipton, Kelly, Bachmann, Roby, Diaz-Balart, Lance, Walsh, Renacci, Turner, Luetkemeyer, Huizenga, Nunnelee

Discussing everyone’s favorite bank! Let’s see how quickly they cut me.

Today the National Futures Association published two letters supporting the CCC’s positions. The first echoes our demands that JPMorgan disgorge MF Global customer property, while the second encourages the US Attorneys office to vigorously pursue potential criminal conduct surrounding the collapse of MF Global. We thank the NFA for their support and continue to value what has become a close working relationship with them. You may download the letters here:

NFA Ltr to JPMorgan and Trustee1
NFA Ltr to US Attorney1