AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Behind the Money
Was the Archegos implosion illegal?
May 8, 2024
FT's US legal correspondent Joe Miller discusses the Archegos scandal and the upcoming trial of founder Bill Hwang. Topics include racketeering, securities fraud charges, market manipulation, and the legal complexities of the case.
23:38
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Bill Hwang used risky equity swaps to manipulate markets, leading to a global financial crisis.
- Legal complexities arose from Bill Hwang's exploitation of loopholes in financial regulations.
Deep dives
The Archegos Capital Management Implosion
In 2021, Archegos Capital Management, a family office run by Bill Wong, faced a dramatic implosion. Wong, previously associated with legal controversies in his hedge fund career, amassed huge stakes in various companies using risky equity swaps. These trades, while legal individually, collectively turned into a market manipulation scheme, resulting in billions of dollars of losses and a global financial crisis.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode