Re-hypothecation: an ugly word with ugly consequences. Like many other providers of broking services to hedge funds, the European arm of Lehman Brothers was fond of using collateral posted by its clients as collateral for activities of its own. The practice seemed harmless until the broker went bust, leaving hundreds of funds facing a long struggle to claw back assets.
再擔保契約(Re-hypothecation)：一個帶來邪惡後果的邪惡辭彙。與向對沖基金提供經紀服務的許多其它經紀商一樣，雷曼兄弟(Lehman Brothers)的歐洲子公司也喜歡把客戶提交給它的抵押品用於自己的活動。在雷曼破產前，這種做法似乎無害，但在雷曼破產後，它讓數百家對沖基金走上了討回資產的漫漫長路。
您已閱讀20%（527字），剩餘80%（2114字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。