The chain of events which led to the collapse of Barings, Britain's oldest merchant bank, is a demonstration of how not to manage a derivatives operation.
Barings, Britain's oldest merchant bank once had the opportunity to purchase the Thirteen Colonies, but declined as they thought they had no future.
( z1 contrast :ARG1 ( z2 have :ARG0 ( z3 bank :name ( z4 name :op "Barings" ) :mod ( z5 commerce ) :ARG1-of ( z6 have-degree :ARG2 ( z7 old ) :ARG3 ( z8 most ) :ARG5 ( z9 bank :location ( z10 country :name ( z11 name :op "Britain" ) ) ) ) ) ) :ARG1 ( z12 opportunity :topic ( z13 purchase :ARG0 z3 :ARG1 ( z14 colony :quant 13 :name ( z15 name :op "Thirteen" :op "Colonies" ) ) ) ) :time ( z16 once ) )