Lawyers for Archegos founder Bill Hwang and former chief financial officer Patrick Halligan offered a preview of their defense strategy, attacking the US government’s allegations that the two deceived Wall Street’s biggest banks and engaged in market manipulation. Archegos Capital Management, Hwang’s family office, and the banks were like “Shaq and LeBron,” said Mary Mulligan, who represents Halligan, at a pretrial hearing Wednesday in federal court in Manhattan. In the NBA, she said, everybody plays with “sharp elbows.” “These banks are sophisticated and have outside counsel,” she told US District Judge Alvin ... (full story)