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OK - in US v. Hwang of Archegos, cross examination of cooperator Becker continues. He was just asked about his message, "Whatevs, we'll just roll with it." Inner City Press will live tweet, thread below https://t.co/ctkYc8kuOL
As Archegos collapsed in March 2021, it began trying to pull excess cash from trading accounts across Wall Street. At the time, it had about $470M with Goldman Sachs But instead of withdrawing the money, an Archegos staffer accidentally wired $470M to Goldman, and the bank… https://t.co/M9xZLR7usS
Bloomberg: Archegos Sent Goldman $470 Million in Error Amid Collapse As Archegos positions cratered in March 2021, it began trying to pull excess cash from trading accounts across Wall Street. It set its eyes on about $470 million at Goldman. But instead of withdrawing the…
Archegos, a now-defunct dealer, faced margin calls in March 2021. Credit Suisse had a soft approach, while Morgan Stanley was harsh. Archegos mistakenly sent $470 million to Goldman Sachs during its collapse, intending to withdraw the cash.
