Hello and welcome to Business Weekly with Lucy Burton.

Today we're going to be talking about what could be the most spectacular loss of personal wealth in history

as the hedge fund of billionaire Bill Huang collapsed.

Some of the biggest investment banks in the world have been left exposed,

and questions are being raised about why these banks took such big risks. Our memories of the

financial crisis really so hazy? We'll also head to the Himalayas, where hydroelectric dams are

under scrutiny after an accident in February left 70 people dead.

And as Bangladesh celebrates 50 years of independence, what does the future look like

for its all-important textile industry?

First, there's been a storm in the stock market and financial regulators have got their

bdi-is fixed on the collapse of a little known and rather secretive hedge fund called Arkegos Capital Management.

Run by the billionaire Bill Huang, and we'll have more on him later, the personal fund and its financial lenders lost billions of dollars in just a few days.

And it got market commentators rather head up.

Stocks starting the day lower, but clawing their way back right now. The Dow and S&P are both

in the green. The NASDAQ just shy of that. Investors digesting the margin calm meltdown

and rates that continue to rise. Let's talk about where we go from here.

The bulk of the losses on the bank side appear to be falling on Credit Suisse and the Moorah,

both of whom have warned on the record about the situation,

though the size of the loss is still to be confirmed.

It is expected to be in the billions.

The market kind of did not know what this guy was up to, right?

And so this is, I think, a one-off, but I think it will impact regulations moving forward or it should.

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