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In response to a question, Succo declared that the senior managements at some—possibly all—Wall Street firms had no idea of the risks being run by their twenty-six-year-old traders. He hedged a bit, adding that his management was better informed. But the heresy was accomplished. For suggesting that Wall Street’s top brass was uninformed, the prophetic Succo was forced to resign from Lehman.
When Genius Failed: The Rise and Fall of Long-Term Capital Management
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