SkipCaptcha, Automoderated users, edit
2,275
edits
Changes
Jump to navigation
Jump to search
Line 1:
Line 1: − + Line 21:
Line 21: +
Long Term Capital Management (view source)
Revision as of 20:50, March 9, 2013
, 20:50, March 9, 2013no edit summary
'''Long-Term Capital Management''' (LTCM) was a famous hedge fund in the 1990s that boasted the best and the brightest financial experts, including on its Board of Directors two [[Nobel Prize]]-winners in [[economics]]. It exploited emerging capital markets in foreign nations without any regard for the havoc that its speculations caused there.<ref>The Hong Kong government blamed hedge funds like LTCM for disrupting its capital markets.</ref> It was headed for bankruptcy in 1998 when a bailout arranged at the highest levels of the Clinton Administration saved it and its partners from ruin. Two years later it shut down.
'''Long-Term Capital Management''' (LTCM) was a famous hedge fund in the 1990s that boasted the best and the brightest financial experts, including on its Board of Directors two [[Nobel Prize]]-winners in [[economics]]. It exploited emerging capital markets in foreign nations without any regard for the havoc that its speculations caused there.<ref>The Hong Kong government blamed hedge funds like LTCM for disrupting its capital markets.</ref> It was headed for bankruptcy in 1998 when a [[bailout]] arranged at the highest levels of the [[Clinton Administration]] saved it and its partners from ruin. Two years later it shut down.
The most prominent partner of LTCM was the former vice chairman of the Federal Reserve Board, David W. Mullins Jr. Investors in LTCM included [[Goldman Sachs]], the former employer of Clinton Treasury Secretary [[Robert Rubin]], and many top executives at the leading investment banks and foreign banks. LTCM controlled contracts involving $160 billion at its peak, and it placed large short-term bets on securities issued by foreign governments.
The most prominent partner of LTCM was the former vice chairman of the Federal Reserve Board, David W. Mullins Jr. Investors in LTCM included [[Goldman Sachs]], the former employer of Clinton Treasury Secretary [[Robert Rubin]], and many top executives at the leading investment banks and foreign banks. LTCM controlled contracts involving $160 billion at its peak, and it placed large short-term bets on securities issued by foreign governments.
[[category:Business]]
[[category:Business]]
[[category:Finance]]
[[category:Finance]]
[[Category;Clinton administration]]