Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors nix bailout plan

By Peter Fearon, Newser Staff

Posted Jun 20, 2007 7:02 AM CDT

(Newser) – Two major Bear Stearns hedge funds that once controlled more than $20 billion in assets are on the brink of collapse after disastrous losses in securities backed by subprimes. The Journal reports a bailout plan that would have kept the funds afloat fractured last night,... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Wall Street Journal (Source Grid »)

Hedge Fund Crisis

Bear Stearns manager warned of collapse in February
New York Times

How the crisis could ripple through the market
MSNBC

Bank of America • Goldman Sachs • subprime mortgages • business • Bear Stearns • Merrill Lynch • hedge fund • financial crisis

More Newser Stories

Feds Sue Big Banks Over Mortgages

US accuses them of dodging due diligence as crisis fallout spreads

(NEWSER) - The Federal Housing Finance Agency—the agency behind Fannie Mae and Freddy Mac—has filed suit against more than a dozen big banks for their role in the mortgage meltdown mess. The feds, seeking billions in compensation, accuse the banks of misrepresenting the quality of mortgage securities, reports the New York Times . The suit accuses institutions including Bank of America, JPMorgan Chase, Goldman Sachs, and Deutsche Bank of failing to perform proper due diligence and missing evidence that borrowers’ incomes were inflated or falsified. More»

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

(NEWSER) - James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense reading. “I don’t think I can take another day of this,” one banker says getting out of the Goldman Sachs car on Day 4. “You’re getting out of a Mercedes to go to the New York Federal Reserve,” snaps Bernanke. “You’re not getting out of a Higgins Boat on Omaha Beach.” Not quite, at least. More»

Brain Drain Wallops Wall Street

It's not just the firings: others are leaving for safer jobs

(NEWSER) - The financial crisis is reshaping not just the landscape of Wall Street, but its face as well, reports the New York Times in a look at the hemorrhaging of the Street's top talent. Layoffs aside, finance's best and brightest—arguably the same daring risk-takers responsible for the recession—are seizing the chance to retire early, or more often, fleeing federally overseen big banks in favor of more cash and opportunity at smaller boutiques. More»

Times Tough for I-Bankers, in 'Marie Antoinette' Kind of Way

Tough times prompt some soul searching, but titans confident they'll regain Wall St. primacy

(NEWSER) - With Wall Street in free fall, many of its elite I-bankers are seeing the status quo turned upside-down, Vanessa Grigoriadis writes in New York. Once at the top of the heap, working for companies that praised them as smartest people out there, some are fighting to survive on the Street, while others have reversed course, taking jobs with—gasp!—the government. More»

Crisis Leaves Goldman Nearly Unruffled

Being ahead of curve, having friends in high places pays dividends

(NEWSER) - With the US financial inferno taking down most of the big investment banks, Goldman Sachs is set to emerge “essentially the same institution,” David Weidner writes in MarketWatch, stronger than it was before and with the same powerful array of friends in high places who, intentionally or otherwise, have helped it navigate the credit crisis. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Outlook Bearish for Bear Sterns Hedge Funds

Managers scramble after creditors nix bailout plan

Hedge Fund Crisis

Bank of America • Goldman Sachs • subprime mortgages • business • Bear Stearns • Merrill Lynch • hedge fund • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Feds Sue Big Banks Over Mortgages

US accuses them of dodging due diligence as crisis fallout spreads

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

Brain Drain Wallops Wall Street

It's not just the firings: others are leaving for safer jobs

Times Tough for I-Bankers, in 'Marie Antoinette' Kind of Way

Tough times prompt some soul searching, but titans confident they'll regain Wall St. primacy

Crisis Leaves Goldman Nearly Unruffled

Being ahead of curve, having friends in high places pays dividends

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?