Speculators and losers
1992 - Soros bet against the Bank of England, and made $1 B
1993 - Gibson Greeting (who was misled by Banker's Trust), swapped interest for losses of $23 M, after which Banker's settled for $ 14.5 M
1994 - Orange Co. CA sold 70% of it's yearly budget in taxable bonds and loaned those funds to the county treasurer, who became highly leveraged in hedge funds. When the US interest rate rose, the county fund lost value, losing $1.64 B. Orange County was bankrupt, and was unable to pay it's bonds off.
1994 - Procter & Gamble lost $ 157 M pretax, on the advice of Banker's Trust.
1995 - Barings Bank lost $1.3 B. Executive Fred Banbash was blamed for speculating.
1995 - Daiwa Bank of Osaka, LTCM, 1.1 B bond trade soured.
1995 - MetallGesellschaft, $ 2 B
1997 - Bank of Tokyo-Mitsubishi - 83M
1997 - National Westminster Bank - £90M lost to £ options;
1997 - Soros also shorted the Thai baht. He was blamed for the economic collapse of Thailand.
1998 - George Soros lost $2 B in Russia and has shut down a hedge fund and merged two others. Quantum Emerging Growth fund closes, Quantum Industrial Holdings & Quasar International merged. His Fraternity Fund (an investor in Quantum) is down 30%
1998 - Hong Kong currency was a target in August 1998.
1998 - Long Term Capital Management lost $3.5 B in options, while being advised by two Nobel Laureates.
1998 - SK Securities of Korea reneged on a 349M loss, and claimed in court they were misled about the stability of the baht, after JP Morgan unloaded $1 B Thai baht in a complex derivative deal.
Barclays, Britain's 3rd largest - £15M loss; (undated)
Tiger Management lost $3B, betting against the yen, which rose. (undated)
UBS $500 M through LTCM, and it's Warburg Dillon Read, $ 639 M, (undated)