When Genius Failed: The Rescue of Long Term Capital Management
On September 23, 1998, the hedge fund Long Term Capital Management was bailed out by a total of 14 banks. The book "When Genius Failed" chronicles this story in detail.
On September 23, 1998, the hedge fund Long Term Capital Management was bailed out by a total of 14 banks. The book "When Genius Failed" chronicles this story in detail.
On September 2, 1998, John Meriwether, President of LTCM (Long Term Capital Management), sent a letter to his investors stating that the fund had lost $2.5 billion that year.