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Aug 16 2007 12:00am EDT
L.T.C.M. Redux? No, Scarier.
Moody's has altered investors to the possibility of a repeat of the 1998 Long Term Capital Management hedge fund crisis.
We should be so lucky.
As we have said before, the L.T.C.M. crisis has been widely, and in our opinion, mistakenly seen as a vindication of the workings of the financial system.
Reality is more complicated.
Yves Smith's full Market Movers blog post on this subject can be found here.
Laura Rich is a co-founder of Recessionwire, which provides news, advice, perspective and humor about the recession and the recovery.
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