Merrill cites $1.4 billion exposure to Long-Term
Article Abstract:
The sudden decline in Greenwich, Conn.-based Long-Term Capital Management's fortunes has hit home at Merrill Lynch and Company, which reported exposure of $1.4 billion to the troubled speculative hedge fund. Industry analysts have said that Merrill Lynch, which had served as Long-Term's major banker, would have suffered severe losses if the hedge fund had been permitted to collapse. Long-Term was rescued from bankruptcy with a $3.6 billion bailout by a consortium of fourteen financial firms, which included Merrill Lynch.
Comment:
Has reported exposure of $1.4 bil to Long-Term Capital Management, the troubled speculative hedge fund
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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After 31 years at Goldman, vice chairman plans to retire
Article Abstract:
The longest serving partner at Goldman, Sachs & Co., Roy J. Zuckerberg, vice chairman, will retire to 19 acres and a new home in the East Hamptons. After being with the company for 31 years, his retirement next month comes shortly after the company withdrew its public offering recently. Had that occurred, Mr. Zuckerberg could have left with about $200 million in shares. He will continue as chairman of Goldman's private bank in Zurich.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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