On September 16, 1992, Black Wednesday, Soros' fund sold short more than $10 billion in pounds, profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.
Finally, the UK withdrew from the European Exchange Rate Mechanism, devaluing the pound, earning Soros an estimated $1.1 billion. He was dubbed "the man who broke the Bank of England". In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion.
George Soros - Wikipedia, the free encyclopediaBrothers Nelson Bunker Hunt and William Herbert Hunt attempted to corner the world silver markets in the late 1970s and early 1980s, at one stage holding the rights to more than half of the world's deliverable silver. During the Hunts' accumulation of the precious metal, silver prices rose from $11 an ounce in September 1979 to nearly $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later, much of the fall occurring on a single day now known as Silver Thursday, due to changes made to exchange rules regarding the purchase of commodities on margin.
Cornering the market - Wikipedia, the free encyclopediaThe Treasury Department suggested that the potential losses to the US and global economy would be 'extremely high' if it [AIG] were to collapse and has suggested that if in future there is no improvement, it will invest more money into the company [in addition to $180 billion already invested], as it is unwilling to allow it to fail.
American International Group - Wikipedia, the free encyclopedia