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Lessons Wall Street Failed To Learn
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Is history repeating itself? Ten years ago, Long-Term Capital Management failed. Roger Lowenstein, author of When Genius Failed: The Rise and Fall of Long-Term Capital Management, tells Madeleine Brand that the biggest lesson was not to go too far into debt. But while Wall Street tends to take home the immediate lesson, companies struggle to apply the large scale lesson, he says.
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Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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