On March 26, 2021, the financial world awoke to the news that rattled some of Wall Street’s biggest players. To the outside world, and at the center of it all were some unfamiliar and obscure names-- Archegos Capital and its Founder Bill Hwang. The word on the street was that Archegos defaulted on billions of dollars of loans, creating a contagion amongst some of the world’s biggest banks that now faced billion-dollar losses. What would be uncovered would become one of the most astounding and outrageous financial failures in modern-day history, which all could’ve been entirely preventable.
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