Senator Elizabeth Warren is calling for more transparency and oversight in the financial system after the forced selloff of holdings linked to Bill Hwang’s private investment firm.
The unwinding of Hwang’s Archegos Capital Management after banks forced it to sell billions of dollars in investments accumulated through highly leveraged bets has roiled global markets. Calls for increased oversight have come about due to Archegos’ never having disclosed its positions in the publicly-traded companies.
Senator Elizabeth Warren
Photographer: Stefani Reynolds/Bloomberg
“Archegos’ meltdown had all the makings of a dangerous situation -- largely unregulated hedge fund, opaque derivatives, trading in private dark pools, high leverage, and ...
