Following the collapse of Long Term Capital Management more than 10 years ago, a government report called for derivatives market reform. The report, issued by the President’s Working Group in April 1999, noted that “market history indicates that even painful lessons recede from memory with time”. Sure enough, once the LTCM headlines disappeared, the impetus for reform vanished.
Kenneth Griffin, Financial Times
Hmm. Sounds like Kenneth Griffin, the founder of Citadel hedge funds, has never heard of the 2005 Bankruptcy Reform Act.