Olde Hornet
Well-Known Member
The greed of the wealthy continues, they will want another bail out, they should not get it!
Hedge fund meltdown: Elizabeth Warren suggests regulators should've seen it coming
https://www.cnn.com/2021/03/30/investing/wall-street-hedge-fund-elizabeth-warren/index.html
Senator Elizabeth Warren is calling out regulators after little-known hedge fund Archegos Capital Management was able to borrow so much money that its implosion last week sent shockwaves across Wall Street.
"Regulators need to rely on more than luck to fend off risks to the financial system," Warren, a Democrat from Massachusetts, said in a statement to CNN Business. "We need transparency and strong oversight to ensure that the next hedge fund blowup doesn't take the economy down with it."
The stocks of ViacomCBS (VIACA) and other media companies crashed late last week after Wall Street banks that lent to Archegos forced the firm to unwind its risky bets in a massive fire sale. Archegos was bankrolled by some of the biggest banks in the world, including Goldman Sachs, Credit Suisse, Deutsche Bank (DB)and Wells Fargo.
Hedge fund meltdown: Elizabeth Warren suggests regulators should've seen it coming
https://www.cnn.com/2021/03/30/investing/wall-street-hedge-fund-elizabeth-warren/index.html
Senator Elizabeth Warren is calling out regulators after little-known hedge fund Archegos Capital Management was able to borrow so much money that its implosion last week sent shockwaves across Wall Street.
"Regulators need to rely on more than luck to fend off risks to the financial system," Warren, a Democrat from Massachusetts, said in a statement to CNN Business. "We need transparency and strong oversight to ensure that the next hedge fund blowup doesn't take the economy down with it."
The stocks of ViacomCBS (VIACA) and other media companies crashed late last week after Wall Street banks that lent to Archegos forced the firm to unwind its risky bets in a massive fire sale. Archegos was bankrolled by some of the biggest banks in the world, including Goldman Sachs, Credit Suisse, Deutsche Bank (DB)and Wells Fargo.