Monday, June 25, 2007
Suddenly almost over night nobody wants to hold this ticking time bomb in his hands/books
Bear to lend $3.2 bln to one of its hedge funds But bank doesn't lend money to other, more leveraged, fund
Bear Stearns Cos. unveiled a rescue plan on Friday after a hedge fund it runs was hit hard by trading billions of dollars worth of mortgage derivatives this year.But the bank didn't offer much help to another of its struggling hedge funds which borrowed more money to magnify its bets in the same market. Both funds control roughly $10 billion in mortgage-related assets.