Bailout Nation Started in 1998 with Long Term Capital Management

Bailout nation started in 1998 with the bailout of Long Term Capital Management (LTCM). Here was their annual report (PDF) that made them the darling of the investing world back in the day. Why bring it up today? LTCM is arguably at the root of current 2012 chaos. The first cut so to speak.

Shout to Barry Ritholtz for the title borrow!