Liquidation of Bill Hwang’s Archegos Capital Management sparked a fire sale of more than $20bn assets

• Opinion: banks will be prompted to check hedge fund exposures

Financial regulators across the world are monitoring the collapse of the New York-based billionaire Bill Hwang’s personal hedge fund.

The sudden liquidation of Hwang’s Archegos Capital Management sparked a fire sale of more than $20bn assets that has left some of the world’s biggest investment banks nursing billions of dollars of losses.

When the facts come out, my sense is the Bill Hwang blow up will be the most spectacular personal loss of wealth in history. If I was an investigative reporter, I’d be working 24-7 since this is cover story material. How he quietly got so rich and how fast it all disappeared.