Worst is over...
you believe???
you believe???
Bearn stears say
- Thread starter alientrader
- Start date
was confused when i saw the headline "more writedowns from bear stearns" and the price up 8% ... it's come down a bit from the day's high. wouldn't be surprised if the market was negative at the end of the day and financials took the brunt of it. we did have quite a day yesterday and we should give some of that back today ....
http://www.profitquotes.com/commodities-quotes.mpl?a=detailed&ticker=bsc
http://www.profitquotes.com/commodities-quotes.mpl?a=detailed&ticker=bsc
10:32 BSC Bear Stearns: Follow-up on 10:26 and 10:29 WSJ headlines about fraud accusation (102.48 +1.61) -Update-
WSJ reports Massachusetts securities regulators filed an complaint accusing Bear Stearns of fraud for allegedly improperly trading with two in-house hedge funds that collapsed this summer. Regulators in the office of Secretary of State William Galvin say in the administrative complaint that Bear Stearns traded mortgage-backed securities for its own account with the hedge funds without notifying the funds' independent directors in advance. Advance disclosure of principal trades is required to make sure trades are fair for ionvestors. The failure of the two mortgage-related funds, Bear Stearns High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Enhanced Leverage Fund, cost investors $1.6 bln. Massachusetts believes it has standing on behalf of state residents invested in the funds.
Use your heads. "over". Yep. They always tell the truth.
WSJ reports Massachusetts securities regulators filed an complaint accusing Bear Stearns of fraud for allegedly improperly trading with two in-house hedge funds that collapsed this summer. Regulators in the office of Secretary of State William Galvin say in the administrative complaint that Bear Stearns traded mortgage-backed securities for its own account with the hedge funds without notifying the funds' independent directors in advance. Advance disclosure of principal trades is required to make sure trades are fair for ionvestors. The failure of the two mortgage-related funds, Bear Stearns High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Enhanced Leverage Fund, cost investors $1.6 bln. Massachusetts believes it has standing on behalf of state residents invested in the funds.
Use your heads. "over". Yep. They always tell the truth.
Now lehman brothers saying that their entire subprime exposure is hedged???? HMMMMMMMMMM
saw it on cnbc flashing headlines