What BSC means

Time to worry ? Why BSC demise is worse than LTCM’s
clipped from blogs.iht.com

The very same enormous trades made it possible for both LTCM and Bear to disappear almost overnight. They might have protected themselves better if they had accounted for their risks properly. Neither the fund nor the bank weighed the damage of extremely unlikely but potentially catastrophic events. When those events occurred, they were helpless. Will the world’s other financial giants learn a lesson, or do agencies like the Fed need to work on their fire prevention instead of rolling out the hoses?

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