Jon Corzine's Sergeant Shultz Defense

Hans Schultz is a comical character in the old TV show Hogan’s Heroes (1965-1971).
Masterfully played by the actor John Banner, Schultz is a bumbling, obese sergeant in the Nazi German POW camp, Stalag 13, who, when confronted by evidence of the Allied prisoners’ covert activities, will simply look the other way, repeating “I hear nothing, I see nothing, I know nothing!” to avoid being blamed. This eventually became a catchphrase of the series.
But there’s nothing comical or funny about Jon Corzine, the Sergeant Shultz of the Obama administration.

Obama campaigning for Jon Corzine

Jon Corzine, a Democrat, was New Jersey governor (2006-2010), U.S. senator from New Jersey (2001-2006), and Chairman and CEO of Wall Street titan Goldman Sachs (1994-1999). Corzine has participated in meetings of the secretive Bilderberg Group, a network of the world’s leaders in the fields of politics, business, and banking, from 1995–1997, 1999, 2003 and 2004.
In 2010, Barack Obama campaigned for Corzine’s reelection to be New Jersey governor. Corzine lost to Republican Chris Christie and so, in March 2010, instead became the CEO of MF Global, the giant financial derivatives broker that went bankrupt more than a month ago — the 8th largest bankruptcy in U.S. history. The broker had unlawfully used its clients’ funds to invest in European sovereign bonds that went bust. An estimated $1-2 billion of clients’ money is unaccounted for.
Summoned before the House Agriculture Committee hearing yesterday, Corzine told Representative Randy Neugebauer (R-Texas) that he never “intended” to authorize anyone to tap into what should be the “segregated funds” of MF Global’s clients.
To which Neugebauer said: “So the answer is you don’t know whether you did or not.”

“I hear nothing, I see nothing, I know nothing!”

To Rep. Austin Scott (R-Georgia), Corzine said he didn’t want to speculate on when the commingling of funds first occurred.

“I hear nothing, I see nothing, I know nothing!”

Representative Leonard Boswell (D-Iowa) asked Corzine what lawmakers should say to their constituents who have lost money in MF Global. Corzine said he hoped that the missing funds would be found.

“I hear nothing, I see nothing, I know nothing!”

Corzine said he was not aware of customer funds being transferred to the broker commodity. There was no intention on my part to violate the segregation rules, he said.

“I hear nothing, I see nothing, I know nothing!”

Corzine declined to name individuals who should have directly managed the transfer of funds. He said he didn’t know who would have ultimately have hit the buttons.

“I hear nothing, I see nothing, I know nothing!”

Corzine was asked “Is there a shortfall in the customer funds that MF Global was legally required to keep segregated?”
“I know only what I read,” Corzine said.

“I hear nothing, I see nothing, I know nothing!”

Congresswoman Renee L. Ellmers (R-NC) asks Corzine about his relationship with Gary Gensler, the head of the federal agency (Commodity Futures Trading Commission) that’s supposed to “regulate” MF Global. Both Corzine and Gensler had worked for Wall Street titan Goldman Sachs. More than that, Corzine had been the boss of Gensler at Goldman Sachs.
Corzine said he and Gensler were not in contact on a frequent basis.

“I hear nothing, I see nothing, I know nothing!”

Asked how he would address farmers who have lost money in MF Global, Corzine said he could not offer specific advice.

“I hear nothing, I see nothing, I know nothing!”

The upshot of Corzine’s testmony before the House committee:
“I simply do not know where the money is,” Corzine said.

“I hear nothing, I see nothing, I know nothing!”

Corzine would have us think that a man who was New Jersey’s governor and senator and, before that, was CEO of Goldman Sachs, “hears nothing, sees nothing, and knows nothing!”
If you believe that, I have the Brooklyn Bridge to sell you.

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7 Comment authors
tinaDr. EowynZorroZZMikeAlice Wolf Recent comment authors
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Excellent post Dr. Eowyn! Being lukewarm is so loathsome!!!! The truth always comes out!


Liar, liar, wish his pants were on fire!

Alice Wolf

These “hearings” are getting tired and old. Congress conducts so many of them and by now the scandalous has become mundane. Those guys on the Hill have feigned horror and pretended to be horrified so many times and yet unlike the Pecora Commission, no arrests have ensued and all the perpetrators of the crimes go scott free. BP, Fast and Furious, the FED, MF, the list goes on and on, Timothy Geithner, Janet Napolitano, Eric Holder, Hillary Clinton. All these high ranking officials are very casual about the collapse of this beautiful republic. Even outspoken members like Denis Kucinich and… Read more »


“How’m I spozed to know where $1 billion went? That’s pocket change for us.”


If Corzine were a Republican, he would be hanged out to dry.


Waterboard,I bet we would have an answer in no time at all!