PBS Frontline: Six Billion Dollar Bet
From PBS Frontline:
Jon Corzine, former head of Goldman Sachs and political power broker, took over MF Global in the spring of 2010 with oversize ambition and a passion for risk. But after a massive bet on European debt turned sour, the firm lay in ruins, with more than a billion dollars of customer funds missing. Six Billion Dollar Bet, our latest addition to Money, Power and Wall Street, examines how Corzine’s traders went around MF Global’s risk officers and how he swayed regulators in Washington to allow risky practices to continue.