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On the 25th anniversary of the failure of Long-Term Capital Management, we look back at the Federal Reserve’s role in its rescue, which ushered in the modern.

New yorkUnited statesFreddie macElon muskJames leynse corbis gettyBen bernankeRoger lowensteinWilliamj mcdonoughRichard bransonJohn meriwetherAlan greenspanHerbert hooverAndrew mellonRichard bernsteinAlan ablesonBear stearns