There didn't have to be an attack for this to happen
It may have been, but it equally could have been mass de-risking due to market conditions causing lots of UST withdrawals. Once the peg goes for a minute, confidence soon follows and the whole house of cards unwinds
LFG had $1.5B of reserves to plug a hole in a $18B leak. It never had a realistic chance of working (unless it was fast enough to stop the initial depeg, in which case it could have delayed the inevitable)
It may have been, but it equally could have been mass de-risking due to market conditions causing lots of UST withdrawals. Once the peg goes for a minute, confidence soon follows and the whole house of cards unwinds
LFG had $1.5B of reserves to plug a hole in a $18B leak. It never had a realistic chance of working (unless it was fast enough to stop the initial depeg, in which case it could have delayed the inevitable)