About the Author
Carlos Alvarez is a finance partner in the New York office of Latham & Watkins and head of its credit derivatives practice group. His practice focuses on derivatives, structured finance and banking law matters, working on both regulatory and transactional aspects of each area; advising investment banks, hedge funds, other financial institutions and end-users.
The chain of events unleashed by the Lehman Brothers bankruptcy painfully illustrated the many risks faced by various market participants, including hedge funds and others who act as swap counterparties and prime brokerage customers.
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