The Astonishing Collapse of MF Global
In the chapters ahead, we will lay out the unraveling of MF Global, from the first major alarm bells heard during the 2008 wheat trading scandal to the broker's dying days and the revelation that a significant amount of customer money had disappeared.
We'll show how a once-venerable broker was thrust into a risk-heavy strategy by a deeply conflicted leader who was trying to play both CEO and chief trader.
We'll explore why internal risk controls, the company's board of directors, and outside regulators failed to curb the company's reckless direction and protect its customers.
And, finally, we'll discuss the lessons that can be gleaned from this collapse, as well as the changes needed to prevent a similar disaster.
Fascinating read!
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