New Jersey's 23rd Legislative District

Senator Michael Doherty

Senator Mike Doherty

Doherty: Corzine’s Lame Excuses Don’t Fix the Problem

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Congress Should Subpoena More Wall Street Bankers

Senator Michael Doherty, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding former Governor Jon Corzine’s testimony on the collapse of MF Global yesterday:

“Following the catastrophic, cascading collapse of major investment banks on Wall Street in 2007, which caused the current global economic recession, the United States Government held no one accountable. Nobody was prosecuted, no hearings were held and no reforms were implemented.

“It is obvious to everyone on Main Street, from the Occupy camps to the Tea Party, that Wall Street is broken. Yet only yesterday did the U.S. Congress take any action. The Congress invited a former colleague, Jon Corzine, to explain the most recent Wall Street collapse. His answer: I don’t know and it’s not my fault. Well that’s just not good enough.

“In order to clean up this mess and put the country back to work the Congress should appoint a special prosecutor and hold anyone who broke any laws legally and personally accountable.

“It’s basic common sense, bankers should not profit if they ‘misplace’ $1.2 billion in client money.”

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