SeeTheDollars
SeeTheDollars
Visualizing an Economic Article
This picture is a visualization of the contents of the economic article
TIMELINE-Diary of a meltdown: how the Archegos Capital fire sale went down here.
Click sequentially, from top to bottom, on the three buttons below the Money Pump to see the story unfold.
When the dollars don't move, click on this sentence to refresh the page.
THE STORY
Money Pump
controls the flow of money
Bill Hwang
THE TIMELINE
rising stock value motivates
Hwang to keep borrowing
honest implementation
that never happened
dishonest implementation
that caused the fire sale
The Money Pump is this
Total Return Swap Agreement.
Clause 1
When the price of the stock goes up,
the Banks pay cash to Hwang.
Clause 2
When the price of the stock goes down,
Hwang pays cash to the Banks.
(same Agreement with each Bank)
EXAMPLES OF THE MAGNITUDE
OF THE FIRE SALE
Goldman Sachs: $10 billion
Morgan Stanley: $8 billion
Deutche Bank: $4 billion
Just imagine. Budget negotiations being carried out with SeeTheDollars diagrams displayed on large monitor screens on the House floor and at the same time being posted on social media for everybody to see how Congress is proposing to spend our money. It’s enough to take your breath away.
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