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> That Thursday his prime brokers held a series of emergency meetings. > The dilemma for Hwang’s lenders was obvious. If the stocks in his swap accounts reboun
by rvba 5y ago
> That Thursday his prime brokers held a series of emergency meetings.
> The dilemma for Hwang’s lenders was obvious. If the stocks in his swap accounts rebounded, everyone would be fine. But if even one bank flinched and started selling, they’d all be exposed to plummeting prices. Credit Suisse wanted to wait.
Isnt this market manipulation?
Assuming that they didnt sell? I mean, even if they sell, it still sounds like insider trading / collusion?