, Columnist
Lessons From a Liquidation
The Archegos affair holds cautionary tales for bankers and regulators alike.
A cultural problem.
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As Wall Street picks through the wreckage of the Archegos Capital implosion, my colleagues at Bloomberg Opinion have been pondering the larger lessons. John Authers runs his rule over the inevitable debate about regulating financial innovation while preserving a free market. He counsels against blaming derivatives for the dastardly — or plain dumb — things people do with them, but he argues that everyone stands to benefit from greater transparency.