Watch Six Billion Dollar Bet on PBS. See more from FRONTLINE.
Saturday, May 26, 2012
Frontline: The Six Billion Dollar Bet - MF Global
For those looking for a relaxing movie to help get their weekend started I present to you Frontline's 20 minute documentary on the recent collapse of MF Global and their $6 billion bet that went very wrong. After JP Morgan recently reported a $2 billion trading loss in the derivatives market (estimates show that number rising), it is important to understand that banks today continue to take enormous trading risks with massive leverage that are now fully backstopped with tax payer money. Heads the banks win and bonuses soar; tails the tax payer handles the losses.
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Another insider crook! No rule of law anymore, only the small time crooks go to jail.
ReplyDeleteIf your a big finance supporter you can break any law you want to.
White collar crime pays........