May 7, 2021
Investor Bill Hwang set off a storm in the stock market in March when his firm, Archegos Capital Management, and its banks, began liquidating huge positions in blue-chip companies that left their counterparties with $10bn in losses. In this episode, Duke Law professors Gina-Gail Fletcher, Elisabeth de Fontenay, Jim Cox, Lee Reiners, and Lawrence Baxter explain why Archegos failed, who got hurt, and what should be done about it.