BEFORE FRIDAY March 26th, few people may have heard of Archegos Capital Management, an investment vehicle run by Bill Hwang, a former hedge-fund trader with a chequered past. But it has emerged as the entity behind a fire sale of at least $20bn-worth of equities, which roiled stockmarkets on an otherwise unremarkable Friday and has left at least two global banks—Credit Suisse and Nomura—facing multi-billion-dollar losses. Financial regulators in America and Europe will have a say before the affair has run its course. Читать дальше...