The same thing happened to Long-Term Capital Management. You can read up on it h... | Hacker News

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jswinghammer on June 30, 2009 | parent | context | favorite | on: The math that killed Lehman Brothers

The same thing happened to Long-Term Capital Management. You can read up on it here:

http://en.wikipedia.org/wiki/Long-Term_Capital_Management

They were bailed out when they failed too so that set the precedent for the bailouts we had recently.

mattyb on June 30, 2009 | [–]

An excellent book on LTCM is 'When Genius Failed' (not an affil link):

http://www.amazon.com/When-Genius-Failed-Long-Term-Managemen...

jwb119 on June 30, 2009 | [–]

to be more specific, LTCM set the precedent for Fed organized bailouts.. private bailouts have a long history, going back at least to JP Morgan

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