The sun had already set on March 25, 2021, and Bill Hwang’s banks were still awaiting explanations.
Some had issued margin calls to his private investment firm,
Finally, just after 8:20 p.m. in New York, a call was convened between the lenders and Archegos representatives, including Hwang himself. It would soon be apparent how big the problem was.
For Bryan Fairbanks, a risk manager at
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