The Money Noose Jon Corzine and the Collapse of MF Global eBook Scott ED Skyrm
Download As PDF : The Money Noose Jon Corzine and the Collapse of MF Global eBook Scott ED Skyrm 
“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 Brokers
“Skyrm put together the story of MF Global like no one else could in providing the ultimate autopsy covering destructive financial engineering that’s played such a big role in our capital markets.” —Lawrence G. McDonald, New York Times best selling author of A Colossal Failure of Common Sense
“God is in the details...first come the reporters, then the lawyers. Skyrm’s 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 Partners
In 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 law’s passage.
THE MONEY NOOSE is a general accounting of the facts that led to MF Global’s 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, it’s 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.
The Money Noose Jon Corzine and the Collapse of MF Global eBook Scott ED Skyrm
Skyrm's "The Money Noose" is excellent for its explanation of how and why MF Global failed. The readers gets a blow-by-blow account of all consequential actions, transactions, and "inactions" in the final week of October 2011. But Skyrm also recounts events at MF Global and its predecessors months and years in advance that give important context. Whether the reader is a financial professional or an outsider to the world of banks, futures markets, broker-dealers, et cetera, there is plenty to gain in "The Money Noose."Product details
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The Money Noose Jon Corzine and the Collapse of MF Global eBook Scott ED Skyrm Reviews
Skyrm succinctly and insightfully evaluates the fall of MF Global and Jon Corzine. Casual observers as well as sophisticated insiders will be intrigued by Corzine's and MF Global's hubris, catastrophic mistakes and cover ups that are neatly set against the turbulent global financial backdrop. A must read for all who strive to avoid getting caught up in systemic financial skullduggery.
Thanks Scott for a very detailed, interesting analysis into one of the most highly technical, perfect storm corporate defaults in history. Your recount methodically describes the cultural foundation of the players and institutions involved, a highly technical analysis of the actual trades and a description of how market participants and MFG reacted as the Noose tightened. Very very valuable information!
Your insights as an experienced market professional and subject matter expert of the Repo Marketplace provide the reader with a depth of information not often experienced. Thanks very much.
Interesting book, but still we know Corzine should be in jail.
Skrym tells a the story of the unraveling of MF Global in a compelling and easy to follow style, that keeps the reader on the edge of their seat, rather than lost in the intricacies of financial markets.
As a guy who doesn't work on Wall Street, I found The Money Noose to be an entertaining and intriguing story. Skyrm takes you from the very beginning to the unfortunate demise of MF Global. A thoroughly enjoyable read! Check out the excellent review on The Huffington Post, too.
A well written and entertaining book that explains futures trading and repurchase to maturity investing simply and clearly; you need neither a degree in mathematics nor finance to understand the transactions and the marketplace. One of the strengths of the book is the author's use of common, everyday examples to explain the complexity of the business. If you enjoyed "House of Cards," "When Genius Failed," and/or "A Colossal Failure of Common Sense," then you should enjoy this book. Another tale of greed and hubris, but the story is very well told, and never seems to get old.
For a financial naif like myself, this book was complicated and welcome. I learned a lot from reading it.
Skyrm seems to believe that blame for MF Global's collapse has been miscast, but he hasn't written the book specifically to exonerate anyone or disparage anyone. The culprit seems to be market psychology, which creates self-fulfilling prophecies that become inescapable death spirals. It might be interesting to read some ideas about interventions to disrupt that sequence whenever it starts to develop
Skyrm's "The Money Noose" is excellent for its explanation of how and why MF Global failed. The readers gets a blow-by-blow account of all consequential actions, transactions, and "inactions" in the final week of October 2011. But Skyrm also recounts events at MF Global and its predecessors months and years in advance that give important context. Whether the reader is a financial professional or an outsider to the world of banks, futures markets, broker-dealers, et cetera, there is plenty to gain in "The Money Noose."
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