Why Did Every Big Bank Fund the Same Invisible Bet?

In March 2021, five of the world's biggest banks simultaneously collapsed under the weight of a single, invisible bet. They had all secretly financed the same man's leveraged empire, hidden behind complex swap contracts. When ViacomCBS stock dropped, the entire house of cards came crashing down in a $20 billion margin call. Archegos Capital, Bill Hwang, Credit Suisse, investment banking, total return swaps, margin call, ViacomCBS, financial collapse, leverage, prime brokerage, Wall Street, 2021 crash, banking scandal, documentary, financial crisis