1998 and the bailout of Long-Term Capital Management. How many hedge funds do you think would still be alive if not for withdrawal restrictions? Take away the cost of bad behavior and you fill the world with fools!
http://www.nytimes.com/2008/12/28/business/economy/28view.html
http://www.nytimes.com/2008/12/28/business/economy/28view.html
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