Hedge fund meltdown: Elizabeth Warren suggests regulators should've seen it coming
CNN
Senator Elizabeth Warren is calling out regulators after little-known hedge fund Archegos Capital Management was able to borrow so much money that its implosion last week sent shockwaves across Wall Street.
"Regulators need to rely on more than luck to fend off risks to the financial system," Warren, a Democrat from Massachusetts, said in a statement to CNN Business. "We need transparency and strong oversight to ensure that the next hedge fund blowup doesn't take the economy down with it." The stocks of ViacomCBS (VIACA) and other media companies crashed late last week after Wall Street banks that lent to Archegos forced the firm to unwind its risky bets in a massive fire sale. Archegos was bankrolled by some of the biggest banks in the world, including Goldman Sachs, Credit Suisse, Deutsche Bank (DB)and Wells Fargo.
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Trump says DOGE could return 20% of its savings directly to taxpayers. That could reignite inflation
President Donald Trump said he is considering a plan that would give 20% of savings identified by Elon Musk’s Department of Government Efficiency (DOGE) back to Americans, potentially complicating the country’s ongoing battle with elevated inflation.