Crises may be a sign of panic, but as 2008 showed, the unthinkable can become the doable
Neil Woodford was once the three men with the Midas touch, the favorite of the investor community. His record of picking wins was such that money flowed like torrents into his funds.
As time went by, picking wins became more difficult and some of Woodford’s growth inventories proving to be duds. A few eyebrows were raised. Eventually, as investors started to contemplate big-hearted loss, many of them asked to provide their fund back. The a requirement for redemptions became so large that trading in Woodford’s flagship money was suspended for 28 days. Or, to put it in old-fashioned words, capital powers were imposed.
Read more: theguardian.com