""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.
General
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