Six Billion Dollar Bet(21:07) Jon Corzine, MF Global and the disastrous gamble that brought down a company.
Watch Now: Six Billion Dollar Bet
Follow @GretchenMargMay 22, 2012, 10:18 pm ET
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. You can watch it above.
Also take a look at seven key questions about what happened to customer money during MF Global’s collapse; read an interview with a trader who worked for the company during its chaotic last days; and learn more about why someone might make a risky bet with this overview of huge gambles that actually paid off.
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