Jon Corzine Testifies on Capitol Hill

Former senator and governor admits not knowing how investor money disappeared.
1:38 | 12/08/11

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Transcript for Jon Corzine Testifies on Capitol Hill
-- political heavyweight under fire tonight Jon Corzine wants -- US senator and governor of New Jersey forced to explain himself to small every -- investors today. He was testifying on Capitol Hill saying he has no idea where -- billion dollars of investment money wet. Here's ABC's Linda Davis. Raise your right hand he did not plead the fifth but former senator Jon Corzine could not answer the -- question behind today's hearing. Question where are those millions and millions simply do not know. Where the money is the money is an estimated one point team. Billion dollars invested by clients in the Wall Street brokerage firm Corzine headed for nearly two years called MF global. The firm invested heavily in European debt of bad -- that led to the eighth largest bankruptcy in US history. Of course my distress. And sadness pale in comparison total losses from hardships. -- customers farmers and ranchers and others employees and investors have suffered. Their -- weighs on my mind every day. Corzine resigned as CEO last month. Do you have an estimate. I know you can't tell us exactly as to how much money collectively at this point has been lost by those investors. Congressman that's a question. I like to know the answer to. As much as you. Corzine hasn't spoken publicly until today but the former governor senator and CEO -- will face more tough questions. This was just the first of three congressional committees that want to hear from him. Lindsey Davis ABC news.

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