Six Billion Dollar Bet

May 22, 2012 // 21:07
Six Billion Dollar Bet
May 22, 2012 // 21:07
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Nearly four years after the financial crisis, yet another scandal rocks Wall Street. 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. FRONTLINE investigates how Corzine's traders went around MF Global's risk officers and how he swayed regulators in Washington to allow risky practices to continue.

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