Hedge fund fallout & Other Merry Weather

Brad De Long delong at econ.Berkeley.EDU
Thu Oct 1 14:39:13 PDT 1998

>Brad De Long wrote:
>>The New York Federal Reserve loaned the LCTM creditors the use of a
>>conference room, told them they had a problem, and suggested strongly that
>>they solve it. This is the lightest of possible government interventions...
>Right, just like a suggestion from John Gotti in his heyday would have been
>offered in a purely advisory, take it or leave it spirit.

Oh, I'm sure that they are taking names... and will remember who was not so "helpful."

But Bear Sterns and Lehman refused to pony up their share, no?

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