Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes

As a consequence of the filing, Bear Stearns seized $1.3 billion of underlying collateral – Cioffi’s panoply of illiquid mortgage-backed securities – that it had been financing for all of one month and absorbed it onto the firm’s balance sheet. Not long after, Cioffi and Tannin were fired.

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(Newser) – Bear Stearns, faced with the implosion of two hedge funds worth more than $1 billion, has decided to liquidate them in the Cayman Islands-a move that will give creditors and investors.

Thus one chief executive, recounting his investment firm’s decision to spurn an offer of securities backed by subprime (low-quality) mortgages from Bear Stearns, a large investment bank.

Subprime woes weigh on Goldman, Bear results. on revenue of $10.16 billion. Bear Stearns. principally attributable to continued weakness in the subprime sector." At Bear, fixed income net.

Mad Money Holiday Special June 2007 – Amid losses in its portfolio, the Bear Stearns high-grade structured credit Fund receives a $1.6 billion bait out from Bear Stearns, which would help it to meet margin calls while it.

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Stone Lion, founded in 2008 by Bear Stearns & Co. Inc. veterans gregory hanley and Alan. go south as they began to do as early as 2006 in the housing bubble: Subprime was $1.3 T (left bar; I don’t.