New evidence and tapes have revealed the dramatic 72-hour collapse of Archegos Capital Management, led by Bill Hwang. The collapse has been attributed to the greed for fees that made investment banks gullible, leading them to overlook significant risks. Nomura $NMR, one of the banks involved, has been criticized for enabling Hwang and Archegos, as well as other controversial figures such as Bryant Riley and Brian Kahn of $RILY / $FRG. The incident has sparked discussions about the need for investment banks to demand more comprehensive reports from master custodians to avoid similar failures in the future.