President Obama arrived at Holmdel High School in the Marine One helicopter on Thursday, July 16, where he proceeded on local roads by motorcade to the PNC Arts Center for the Corzine Rally and Fundraiser.
Former MF Global Chief Risk Officers Michael Roseman and Michael Stockman have been interviewed by staff investigators of the House Financial Services Committee, but they aren't expected to testify at the Committee's hearing on Thursday, according to people familiar with the matter.
The discussions with the Oversight and Investigations Subcommittee, a subcommittee of the House Financial Services Committee, took place with Roseman last Friday and Stockman on Monday of this week, these people said. Both conversations took place by telephone and each lasted about two hours.
People familiar with the matter say neither Roseman nor Stockman is expected to testify this week at Thursday's Oversight and Investigations hearing on the collapse of MF Global. The hearing will focus largely on regulators' failure to coordinate information sharing on potential issues at the company, a person familiar with the subcommittee's investigation said.
More than a dozen individuals, including those from MF Global, the U.S. Securities and Exchange Commission, the Commodities Futures Trading Commission and the Federal Reserve Bank of New York, have been interviewed as part of the subcommittee's investigation, a source familiar with the matter said.
Roseman served as chief risk officer at MF Global from 2008 through January of this year, when he was notified he would be replaced by Stockman, a risk official who had spent several years at UBS. During his tenure, Roseman had raised concerns and clashed with Corzine over the growing European sovereign debt trades.
Witnesses at Thursday's hearing include Daniel Berkovitz, general counsel at the Commodity Futures Trading Commission, Robert Cook, director, division of trading and markets at the U.S. Securities and Exchange Commission, and Richard Ketchum, chief executive officer at Financial Industry Regulatory Authority. Former Chief Executive Jon Corzine and former President and Chief Operating Officer Bradley Abelow are also scheduled to testify.
The House Agriculture Committee and Senate Agriculture Committee already held hearings, on Dec. 8 and Dec. 13, respectively, on MF Global.
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