The Money Noose: Jon Corzine and the Collapse of MF Global

Skyrm makes complex financial scenarios accessible to all interested readers in an informative and entertaining manner. We can all learn something from this book. -Thomas Peterffy Chairman CEO and President of Interactive BrokersSkyrm put together the story of MF Global like no one else could in providing the ultimate autopsy covering destructive financial engineering thats played such a big role in our capital markets. -Lawrence G. McDonald New York Times best selling author of A Colossal Failure of Common SenseGod is in the details...first come the reporters then the lawyers. Skyrms book is the necessary antidote. Only someone who has done it can explain it. Perhaps the best counterfactual rationale for reading The Money Noose: If John Corzine had been able to before there would likely have been no after. -Stan Jonas Managing Partner Axiom Management PartnersIn 2010 President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. MF Global was bankrupt less than a year after the laws passage. THE MONEY NOOSE is a general accounting of the facts that led to MF Globals collapse as well as the story of the major players involved. It is a chaotic story one in which individual actions taken in and of themselves are relatively minor. But the sum of those individual actions equal the same end result. How then can investors protect themselves from this outcome? The best answer is education. Investors need to be fully aware of what is involved in the investment process and that includes an understanding of seg funds. It is after all their money. This book is designed to tell the story of MF Global what went wrong and how things came to an abrupt end. In those regards its an incredible story.Scott E.D. Skyrm is one of the leading figures in the repo and securities finance markets today and regularly quoted in The Wall Street Journal The Financial Times Bloomberg News Service Reuters Market News and Dow Jones. He is highly regarded as a former salesman trader trading desk manager and global business head in fixed-income securities finance and securities clearing and settlement. He recently left Newedge where he was their Global Head of Repo Money Markets and Fixed Income Clearing. He now is writing commentaries on the repo market the short-end of the Treasury market Federal Reserve policy and general Wall Street topics. He has worked on Wall Street for over 22 years and has taken billion-dollar risks on the trading floor managed a multi-billion dollar balance sheet and consistently ran one of the most profitable trading groups at every firm where he worked. Prior to Newedge he managed the repo desk at ING Barings worked summers at Shearson Lehman/American Express and started his full-time career at The Bank of Tokyo.