On the 25th anniversary of the failure of Long-Term Capital Management, we look back at the Federal Reserve’s role in its rescue, which ushered in the modern.
Or both. Are there any readers out there old enough to remember the story of the original Too Smart and Too Big to Fail money manager, Nobel-prizewinner-packed Long Term Capital Management? It didn't last in the long term at all, ironically. The long version of that story is available in many books; we like When Genius…