We have heard a lot of 35-cent words being tossed around, something called 'rehypothecation.'
Pat Roberts
The Public Record
Pat Roberts is a former United States Senator from Kansas, serving from 1997 to 2021. A member of the Republican Party, he was known for his work on agricultural policy and national security issues during his tenure. Before his time in the Senate, Roberts served in the U.S. House of Representatives from 1981 to 1997. Throughout his political career, he focused on issues important to Kansas, including farming and rural development. Roberts was also involved in various committees, including the Senate Committee on Agriculture, Nutrition, and Forestry, where he played a significant role in shaping agricultural legislation.
I think I know where he is coming from, but I do not care what business you are in; you do not delegate responsibility.
The fundamental rule in the futures markets business is to segregate--to keep apart--customer accounts and company accounts.
How many heads of operations--how many heads do we have to have around here before we finally drill down and find somebody's name that knows what the heck is going on?
The customers here today, and the thousands of others across the country whose money is missing, deserve answers.
It is my understanding Chairman Gensler would have been the lead at that time on all MF Global-related issues because he did not become non-participating until 8 days later.
Funds do not simply disappear. Someone took action, whether legal or illegal, to move that money.
Why don't you together a PowerPoint or a TO chart or something so we could put everybody's name and finally we would probably get down to the custodian.
Wasn't the primary purpose of your intensive review to make sure that the segregated customer accounts were not dissipated or otherwise misused?
For the entire panel, in your testimony this morning all of you have referenced a loss of confidence in the futures market in the aftermath of the MF Global bankruptcy.
Seventy-two percent is better than where you stood a week ago, but you are not made whole.





