What is everyone's opinion of this situation regarding Archegos? The CEO of IB and the Chief Risk Officer at Credit Suisse are out after losing $4.7B (so far). This comes after the Greensill situation and is now having ripple effects regarding dividend payouts and stock buybacks: https://www.wsj.com/articles/credit-suisse-takes-…
What is so interesting, is Bill Hwang was able to gain leverage at all these IBs after admitting to insider trading in 2013. Matt Levine also covered it in a good summary for Money Stuff yesterday: https://www.bloomberg.com/opinion/articles/2021-0…
News today is that Morgan Stanley was out of the positions on March 25th, and GS was largely unhurt. Many firms are hurting though. Wild story that brings back the days of 2008.
"CEO of investment banking" gave me a good chuckle
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