Is history repeating itself? Ten years ago, Long-Term Capital Management failed. Roger Lowenstein, author of When Genius Failed: The Rise and Fall of Long-Term Capital Management, tells Madeleine Brand that the biggest lesson was not to go too far into debt. But while Wall Street tends to take home the immediate lesson, companies struggle to apply the large scale lesson, he says.
Copyright 2023 NPR. To see more, visit https://www.npr.org.
