# kaal:claim:2714974-005

**Claim.** The collapse of Long Term Capital Management in 1998 and its Federal Reserve orchestrated bailout made hedge fund risk to international markets apparent, and concerns over excessive leverage combined with a lack of transparency drove the demand for new regulation.

**Type.** mechanism  **Support.** argued

**Holds when.**

- applies to the post 1998 policy debate

**Source quote.**

> Concerns over excessive leverage by hedge funds and a lack of transparency led to increasing demands for new regulation.

**From.** Kaal and Oesterle, *The History of Hedge Fund Regulation in the United States* (2016), SEC Rules Requiring the Registration of Hedge Fund Managers, page 8

**Cite as.** Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974

**Verify.** sha256 of source PDF `7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Oesterle%20-%202016%20-%20The%20History%20of%20Hedge%20Fund%20Regulation%20in%20the%20United%20States.pdf

**Topics.** systemic-risk, risk-and-incentives, disclosure

**Keywords.** ltcm, systemic-risk, leverage, transparency, regulatory-history

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.