Business
Greed is not good: Hedge fund’s implosion hurts some of the world’s biggest banks – Sydney Morning Herald
There’s no mystery about why a collection of the world’s larger and important banks lined up to provide so much funding and leverage to a character with Bill Hwang’s…
Nomura has owned up to $US2 billion of losses, causing its shares to fall more than 16 per cent.
Credit Suisse, fresh from its Greensill exposures, hasnt quantified its losses but has said they will be substantial, with external estimates ranging from $US1 billion to $US4 billion. Its shares have fallen about 14 per cent.
Deutsche says its losses will be immaterial, while Morgan Stanley and Goldman appear to have escaped unscathed after going in hard and early to dump the collateral for their exposures.
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