Thursday, May 24, 2012

PBS Frontline: Jon Corzine's $6,000,000,000 Bet at MF Global

From Frontline:

Watch Six Billion Dollar Bet on PBS. See more from FRONTLINE.
Also at Frontline:

Live Chat 3 p.m. ET: What Really Happened at MF Global? Join Six Billion Dollar Bet producer Martin Smith for a live chat featuring guest questioner Aaron Lucchetti from The Wall St Journal. You can leave a question now.

What Happened to MF Global’s Customer’s Money? Seven months since MF Global filed for bankruptcy, here is what is known about the brokerage firm’s customers and what happened to $1.6 billion worth of their missing money.

Five Risky Bets that Paid Off As the markets reveled in JP Morgan’s $2 billion loss, and scrambled to understand the $6 billion wipe-out at MF Global, observers asked why, in the wake of the economic meltdown, anyone would take such extreme risks. The answer, of course, is that sometimes those gambles pay off.

Rich Ilczyszyn: Inside MF Global During Its Collapse A former trader discusses those scary final days in late October 2011, and what it was like to learn that customer money was missing. “They were saying it was $500 million; then it was a billion,” he tells FRONTLINE. “It was just unbelievable. It was like a movie.”

How Corzine Steered Regulators To Protect MF Global Strategy When Jon Corzine took the reins of MF Global in 2010, the Wall Street brokerage was a deeply troubled firm. … Continue reading