Vincent Boland: Booby traps could explode the myths around the big banks
The world’s top lenders assure us they’re stronger than they were in 2008. But if Credit Suisse and Nomura can get caught on the losing side of a little forced equity-selling, what else are they doing wrong?
The world’s biggest banks, we are constantly assured, are stronger today than they were in 2008, when the global financial system nearly collapsed. “We have more capital,” they shout. “We have tougher internal controls.” We may be about to find out if that is true.
A few days ago, a hedge fund melted down. Archegos Capital managed the family money of Bill Hwang, a trader whom most people had never heard of, but who had ...
