(Reuters) - NEW YORK, July 17 - Bear Stearns Cos. Inc.'s
two troubled hedge funds that bet heavily on risky
subprime loans now have "very little value," the company said
in a letter sent to investors on Tuesday.
Bear Stearns in June had said it would provide up to $3.2
billion in financing for its High-Grade Structured Credit
Strategies Fund. The investment bank had also said its Enhanced
Leverage Fund had taken greater risk in investments backed by
subprime mortgages.
Read more at Reuters.com Bonds News
two troubled hedge funds that bet heavily on risky
subprime loans now have "very little value," the company said
in a letter sent to investors on Tuesday.
Bear Stearns in June had said it would provide up to $3.2
billion in financing for its High-Grade Structured Credit
Strategies Fund. The investment bank had also said its Enhanced
Leverage Fund had taken greater risk in investments backed by
subprime mortgages.
Read more at Reuters.com Bonds News
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