Mizuho faces $90 million Archegos loss: report

I am not making any money off of this. Dang!

They got off lightly. Unlike Nomura

With their poorly performing IT system, they probably did not even know what was going on!

Have they returned all the bank cards and bank books that their ATMs swallowed yet?

This is merely the tip of the Japanese iceberg. There will be more shocking revelations on the fragility of Japanese financial systems.

It will be worth the wait!

Archegos Capital Management, which looks after the fortune of businessman Bill Hwang

heh,

”looked after” might be more apt, or perhaps “gambled away” even more so.

This is public rights if u want to be trusted with our money.

The losses are more painful than usual as the financial instruments involved hid exposure and magnified risk, rather like the bundles of sub-prime mortgages that initiated the credit crunch.

Given the assets of some of these institutions, which stretch into the trillions, the losses may not be a problem. But it hardly inspires confidence in them.

Why arent these derivates illegal? Or at least regulated to the point the traders and managers are required to report their holdings?