Friday, June 20, 2008

“Believe it or not — I’ve been able to convince people to add more money.”

Prosecutors Build Bear Stearns Case on E-Mails

In the spring of 2007, as the mortgage market came unglued, two Bear Stearns executives shared their growing fears in a series of e-mail messages to each other about the perilous condition of the giant hedge funds they oversaw. The two funds had names as abstruse as the complex subprime securities in their portfolios — High Grade Structured Credit Strategies Fund and its riskier sister offering, the High Grade Structured Credit Strategies Enhanced Leverage Fund.

Posted by malct @ 12:35 PM (654 views)
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