2008-05-25 — timesonline.co.uk
A decade on, it seems that “not much has been learntâ€, said Roger Lowenstein, author of When Genius Failed: The Rise and Fall of Long-Term Capital Management. “The quote I read of Meriwether saying he was going to lower the risk was strikingly reminiscent. I think that’s what he said when he was backing out of LTCM.†...
like Bear Stearns, Meriwether blamed a “run on the bank†for LTCM’s crash.
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