Bear says mortgage funds are near worthless
Fri Jul 20, 2007
Bear Stearns on Tuesday told clients that its two troubled
mortgage hedge funds are basically worthless after losing
billions of dollars on subprime mortgage bets.
In a letter to investors, Bear wrote that its High Grade
Structured Credit Strategies Enhanced Leverage Fund had
effectively no value left and that...
ISSN: 2151-1845 / CDC10004H
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