>Tell me which retail brokerages lost their customers assets because they gambled them away?
Banks are required to keep a percentage of deposits in risk free assets as part of the Basel Accord[1].
Banks were marking risky assets such as Super Senior tranches of CDO's as risk free when, guess what, they were actually super risky. When the value of those tranches dropped, the banks lost tons of value and all of the sudden couldn't cover their debts because they were gambling with what should have been cash.
So to answer your question: all of the banks (who were dealing in CDO's) did this.
Banks are required to keep a percentage of deposits in risk free assets as part of the Basel Accord[1].
Banks were marking risky assets such as Super Senior tranches of CDO's as risk free when, guess what, they were actually super risky. When the value of those tranches dropped, the banks lost tons of value and all of the sudden couldn't cover their debts because they were gambling with what should have been cash.
So to answer your question: all of the banks (who were dealing in CDO's) did this.
https://en.wikipedia.org/wiki/Basel_III#US_version_of_the_Ba...