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.

Posted by out of control speculators @ 05:12 AM (489 views)
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2 thoughts on “Suddenly almost over night nobody wants to hold this ticking time bomb in his hands/books

  • dohousescrashinthewoods says:

    Slightly off-topic, but I checked rental prices in Guildford a couple of days ago and they appear to be down by 1/3.

    What was going for 1200-1400/month six months ago now appears to be being offered at 800-900/month

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  • It shows how quickly the ‘markets’ can catch a cold…

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