MONDAY JUNE 04
On Fire, Then In Flames

The case of UBS’s high-flying – now failed – hedge fund again proves that the art assembling these tricky investment vehicles remains elusive. Here, the bank’s downfall appears to have been tied to its pesky habit of overdoing bonuses. Unclear whether there will be wider ramifications, but already some members of the press are throwing around that dreaded, four-letter word: LTCM.

June 2007

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