Rep Schakowsky First Dem to Formally Respond to CCC RE MFG Ind. Counsel

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A CCC member and constituent of Illinois' 9th congressional district received the first formal response from a House Democrat regarding the May 2012 campaign for an Independent Counsel to investigate MF Global.  In the letter posted below, Rep. Jan Schakowsky (D-IL) explains she felt that the letter Rep. Michael Grimm (R-NY) circulated "did not accurately reflect the facts of the case and was more of an effort to drum up an appearance of impropriety on the part of the Obama Administration".

The CCC member, who prefers not to be named, sent a request to Rep. Schakowsky as part of the CCC's campaign to support Rep. Grimm's call for an Indepenent Counsel.  Rep. Schakowsky does go on to label MF Global's actions "malfeasance" and suggests GAAP "played a role in the collapse of the firm".  She maintains confidence that the DOJ and FBI can perform the task at hand and says she will "work to ensure those responsible for criminal wrongdoing are held accountable for their actions".

The CCC has always held that the MF Global collapse is not a left versus right political issue, it is an issue of right versus wrong.  While we are disappointed that Rep. Schakowsky will not join in the call for an Independent Counsel, we welcome her pledge to ensure criminal acts committed at MF Global are punished to the fullest extent of the law.

Download (PDF, 2.12MB)


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About John Roe 86 Articles
Co-Founder of the CCC and head of BTR Trading and Roe Capital Management.

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