mr. jon corzine said that he replaced you as chief risk officer because mf global, quote, needed someone in the chief risk officer position that was tuned to the broker dealer side of our business than what mr. roseman's background was about and people worked with each other. so, mr. roseman, you have a very impressive resume and a wide variety of experience in the financial industry. do you believe that your background was not fully attuned to the broker dealer side of mf global's side of business? >> i would fully disagree with that statement. i had experience in investment banking prior to mf global. >> so it is true that you have a very strong financial background and experience and a good, strong resume? you would agree with me there, right? >> i appreciate you saying it that way but i would say i had a strong background. >> so mr. stockman , in a lette to a subcommittee, moody's indicated that they did not understand until august 2011 that was part of the mf global trading book? did that surprise you since mf global had exposed this several months before? >> yes, i was not fully at

were you consulted in any way on a recitation by jon corzine or mr. steamcamp? >> i was not. >> did you know these representations were being made? >> jon corzine's comments were public if i understood the quote you are referring to. the representation as i mentioned before, i was not involved and could represent him. >> did you pass along to anybody that you disagree with those representations? that you thought there was a factor? who did you tell? >> as i mentioned, as far as the risk highlights and risk reporting goes, at the august board meeting. the power point presented. you have an auditor, did they raise any concerns about the previous relationship between mr. roseman and the board and change your reported? did they raise any concerns with the processes that mf global had for proprietary trading, was price waterhouse coopers -- did they know about and changes that were made? did they know about the end of the direct report to the board? >> i was not involved in any direct relationships or discussions with price waterhouse. >> are you aware of any? did any

mr. jon corzine said that he replayed you as chief risk officer because mf global "needed someone in the chief risk officer position that was more fully at tuned to the broker dealer side of our business than what mr. roseman's background was about, and there were other issues about how people work with each other." so, mr. roseman, you have a very impressive resume. and a wide variety of experiences in the financial industry. do you believe that your background was not fully at tuned to the broker dealer side of mf global's business in. >> i would fully disagree with that statement. i certainly had the experience in investment banking prior to mf global. >> okay. so it is true that you have a very strong financial background and experience and a good strong resume? you would agree with me there, right? >> yeah, i appreciate you saying it that way but i would say i certainly had a strong background. >> thank you. >> with more on today's hearing we're joined by correspondent sarah lynch from reuters and in the rayburn house office building. thanks for being with us. >> no problem. >> what

jon corzine to make to the board. is that incorrect? >> that's incorrect. >> okay. a statement was read that mr. corzine made to investors shortly before the collapse that it presented no threat to capital of any consequence a week before the collapse, the cfo told standard & poors, s & p, that global -- mf global is in the strongest position ever and actually while moodies had downgraded mf global to junk status four days earlier at the to time of the collapse, s & p had mf global at investment level. were you talked to? >> no. did you know the representations were being made? >> the -- mr. corzine's comments, i believe, were public if i understood the quote that you were referring to. and the representation, as i mentioned, before from mr. steamcamp, i was not involved or couldn't represent him on what the context was that he was -- >> did you pass along to anybody that you disagreed with the representations, that you thought there was, in fact, risk? who did you tell? >> sir, as i mention ed, as far as the risk highlights and risk reporting goes, you know, for example, at the august board mee

consisted of helping prepare part of planned presentations for jon corzine to make to the board; is that incorrect? >> that's incorrect >> mr. neugebauer read a statement that mr. where resigned made to investors before the collapse that the repo to the majority to the capitol of any consequence a week before the collapse told standard and poor's s and p m. ethical was in its strongest position ever and actually while they had downgraded to the junk status four days earlier at time of the collapse and still have the investment grade. were you consulted in any way on the restitution is made by mr. courts line or by mr. stingcamp? did you know the representations were being made? >> mr. quote's comments i believe for a public fight understood the quote that you were referring to come and the representation as i mentioned before i was not involved or couldn't represent to him on with the context was. >> did you pass along to anybody that you disagree on those your presentations that you felt there was risk? who did you tell? >> as i mentioned, as far as the risk pilots and risk reporting goes, for example at the august board m

testifying in the first panel was the former ceo who warned jon corzine of the rest but the concerns were dismissed a few months later he was replaced in mrgrossman says my views certain they played a factor in my replacement" . this was the fourth hearing on the above global collapse it is three hours 20 minutes. >> the committee will come to order. you will have opening statements 10 minutes to each side and also although not members of the subcommittee joining us today members of the full committee asking unanimous consent members of financial-services could join us today to participate in a hearing. good morning. this is our second hearing on the collapse of the mf global. anna the purposes of these hearings is to find out what happened why a very old company ended up in bankruptcy creditors and shareholders and unfortunately customers lost money. we may have additional hearings one of the things you hope to accomplish from the series of hearings from the investigation we have been conducting is to publish a report to give a time line and findings of how these customers lost their money and how a company that was allowed to slip throu