mr. corzine. "as mr. ine testified before congress, he asked that the overdrafts with jpmorgan be corrected." he also testified "he never gave any instruction to misuse customer funds and never intended anyone at mf global to misuse customer funds" he further testified that he did not believe anything he said could reasonably be interpreted as an instruction to misuse customer funds and stands by that testimony. he never directed ms. o'brien or anyone else regarding which account should be used to cure the overdrafts and never directed that customer funds should be used for that purpose, nor was he informed that customer funds had been used for that purpose. to the contrary, and mr. corzine testified, he recalls receiving written material, indicating the funds used to cure the overdrafts were appropriate for that purpose. wow. again, the news is this. e-mails leaking out of congress today, the assistant treasurer of mf global saying mr. corzine ordered about $200 million in customer funds to be transferred

mr. corzine. i think what gave it some of that scrutiny is what was precipitated by the fact and said you are overdrawn, you need to take care of that. would that be a normal call to call the ceo of the company and how would you call the treasurer what was significant about him calling mr. corzine telling him he was overdrawn? >> i think in the context of the fact the company had been downgraded, the chief fiscal officer for the entire firm would have concerns and would be his normal practice if there were issues such as a large over group draft in an account and the most senior person in the company that he knew. so this would be something the would be actually and ordinary step for a company that was in some distress. >> was at this time you dispatched a team to over and have a presence -- let me refresh my memory. when did you dispatch your team to go over to global? >> we went to mf global on friday october 28. and it was to help them see if we could do things for them to help raise liquidity

mr. corzine's testimony so let me ask you today ms. o'brien, did you give mr. corzine assurances that the farmers and ranchers money that was an mf global's account, the segregated account, did you give him assurances that money was not their money? i'm sorry, you are going to have to -- >> on the advice of counsel i respectfully decline to answer based on my constitutional rights. >> i'm going to yield to mr. capuano and see if you would like to -- >> ms. o'brien understand and i respect your constitutional rights but there is an article in today's wall street, maybe yesterday's, that stated that they were trying to negotiate immunity with federal investigators and i'm just curious if that article was accurate or inaccurate. i'm not asking about anything that happened at mf global. i am simply asking is that in a report inaccurate part? >> on the advice of counsel i respectfully decline to answer. >> ms. o'brien the subcommittee asked you here to testify so that you could help use your background and experience to solve a very serious matter and to try to find

mr. corzine assured jpmorgan that they were. we called jpmorgan and they're declining to comment. the chief risk officer at this bank was concerned about this before it even happened tells you the stakes are very, very high. >> thank you very much, kate. we'll be watching for more developments there and next week will be an important week to watch as this broke so late in the day. earlier this week there were concerns about whether apple's new ipad got too handle to handle literally, but now those concerns have cooled down there's a new issue. jon fortt is with me with more. despite the fact that the ipad's battery says it's 100%, it might actually be charged. >> this isn't a huge issue but it's an important one to focus on. basically an expert in displays today said, hey, look, when the ipad says it's 100% charged, the battery is not actually 100% charged. technically he's correct. here's an example. if somebody handed you this you would say it's a full glass of juice. but, in fact, it's not full. there's an inch left. this is full but it's kine of dangerously full. i'm about to

mr. corzine was actively involved in the transferring of the customer funds, $1.6 billion was missing, mr. corzine may have a tough day. he is essentially the big wheel in this. >> i'm wondering what's happened to counterparties now. are they getting their money back that's been lock up for months or not? >> it's interesting. no one knows yet if they're getting their money back. what is interesting is that there's a secondary market. there are claims for up to 80% a dollar. so there is a resumption that the money will be paid back if not in full, a substantial part of it. all 24though we didn't know yet because it was missing in a matter of four days. but there are people out there who believe that a good chunk of it that money will be paid back. >> and it was based on a call that jon corzine made about peripheral debt which actually proved to be right except he was just way too early and he bet the farm. his political analysis was actually right. he said the europeans will do what is right and european debt yields will come down. he just made at the wrong time. >> and the major problem i

mr. corzine's fund and he was a former governor of new jersey. he was a former senator, mr. corzine's firm did not properly care for its clients and it looks like that there's a massive scandal there. we don't hear a lot about it because apparently he's got friends in washington, from his time and from the administration and so forth but hopefully they'll get to the bottom of it because that's real people's money, farmers' money in a lot of cases that they put and trusted in that firm and it's lost. it's like bernie madoff as a ponzi scheme, it was a scam but there's money -- here's -- people i'll lead this into an answer to a different question. nobody has asked me but people would say how could terrorists bring down our stock market and what kind of money would they have to do this? they don't have the funds to do so. well, there's a billion dollars of mf global money that disappeared but that's nothing compared to the $40 billion that was taken to -- flown to iraq federal reserve notes and flown to iraq stuck on piles and they couldn't find $40 billion or how about the $20

mr. corzine. i will yield to mr. canseco >> why except assurances from mf global at the firm was not moving to a funds out of customer accounts? >> as i previously mentioned, it is the obligation of the fcm to know what funds in the account are their own and what are the customers's are counts. therefore, we wouldn't have the information to be able to tell. though normally we don't ask questions for every account transfer. that would be untenable in normal banking relationship but in this case we did take the unusual step of asking questions for two reasons. first, it has been my experience that when firms had issues with compliance with client segregation rules it is often due to illness and operational errors and those operational errors tend to occur under times of stress when there's a lot of trading and things going on in the company so given the situation and mf global i felt that was something that -- it gave me some pause. the second was the funds -- they were going to ultimately be used to pay an overdraft i

mr. corzine's testimony, not commenting, and they'll face the pnl's questioning at a hearing on wednesdayatch in washington, thanks, james. >> thank you. >> new developments now, a new shooting massacre in southern frach. and questioning the older brother, saying they found traces of what could be an explosive material inside his car. the 29-year-old apparently telling police he was quote, proud of his brother. he murdered thee jewish children, a rabbi and soldier in a separate gun attack in the span of eight days. he was killed by sniper fire, after a standoff with police. a u.s. soldier accused of killing afghan officials have been officially charged with 17 counts of pre-meditated murder and robert bales facing counts of murder and assault. if found guilty he could face the death penalty. he's accused of leaving a u.s. military post and fatally shooting 17 people including nine children. >> meanwhile, one top military commander suggesting that the united states needs more troops on the ground there. despite the president's calls for a faster exit. the general saying he believes a signi

mr. record -- if corzine? >> did you call jpmorgan yet, but there was my only conversation about it. >> y vose mf global not able to certify as ms. obrien hadn't used customer on this on october 28 and wouldn't use them in the future? >> first off, the certification is a bit broader than that. it was every transfer within compliance and basically all cftc rules. i certainly expect we would be able to make that with time. somebody would have to go back and make a reasonable increase and should be able to make the representation, not one individual that day. >> pardon me for interrupting the are in these forms they sent out from any of your house, aren't those normal forms, standard forms? >> i had never seen one before like that, and certainly in my general experience, asking somebody to represent, make a representation today that everything they might do in the future is in accordance with certain rules and you can say i have procedures in place to ensure it might be or something. >> were you not concerned abo

mr. corzine said he wasn't going to testify, miss o'brien the rumor is that she's not going to, but mr. iting to see. but there are other important witnesses that we'll have today, the cfo that was very involved in these last days and hours and we're going to have to see what they have to say as well so we can piece together this puzzle. >> congressman, if she does take the fifth or if she's done a deal with prosecutors as is suggested in "the journal," a proffer, where she doesn't say anything public in order to get some sort of deal further down the road, will we have missed an opportunity to get to the bottom of what went on here or will that be discovered do you think in criminal proceedings down the line? is this a one-off that you're embarking on today is in essence what i'm asking you. >> well, i don't think we know that. but what we do know, we get more and more documents every day. my staff has been through literally hundreds of thousands of documents and we're beginning to see the paper trail here and obviously the other regulators and investigators are doing the same thing. we

corzine lost a lot of money but he is still walking free. who should be prosecuting this, and why is it so hard for the average consumer to get help? host: mr. nelson schwartz? guest: well, there have been a lack of prosecutions in the wake of the financial crisis. i don't think anybody would argue with you there. in terms of the big banks, they had a $20 billion settlement, so you are seeing some movement there. these are heavily-regulated industries. but you know, whether their customer service is good is another issue. host: corpus christi, alice, democrats line. caller: good morning. host: hello? caller: i love all the comments and the conversation. y'all are over with in about 14 minutes, is that correct? >> host: we're about 15 minutes, go ahead. caller: i'm from corpus christi. and there has been a lot of hulla ballew since perri came back as governor. but my main thing is with mr. nelson schwartz, i think that we need to get to the basis -- basic of your ethics on investment banks. host: and so do you have a question for our guest, ma'am? caller: yes, sir, i do. how much go ahead. caller: bank of america. yes, sir. host: go ahead, m