Long-Term Capital Management
The hedge fund, launched in 1994 by Salomon Brothers alumnus John Meriwether, used high-risk arbitrage trading strategies to earn big returns, amassing around $5 billion in assets at its height. But the firm's strategy came apart at the height of the Russian debt-default crisis. The Federal Reserve arranged for financing from other Wall Street firms to prevent a fire sale of about $100 billion in assets.
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio