Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes

 · And late Friday, as rivals continued to sell or wind down their positions with the one fund, it became clear that Bear may only need to lend $2 billion or less. Together, the two Bear funds once commanded investments of more than $20 billion in complex debt instruments, mostly backed by subprime mortgages, in addition to billions more in wagers that certain markets would fall.

Marin CapitalThis high-flying California-based hedge fund attracted $1.7 billion in capital and put it to work using credit arbitrage and convertible arbitrage to make a large bet on General.

The failure of two Bear Stearns hedge. and packages subprime loans, he added. In February, MGIC and Radian agreed to merge to form a new company, to be called MGIC Radian Financial Group Inc., that.

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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.

Paulson’s specialty, learned while he was an investment banker at Bear Stearns. housing prices continued to climb. But in February 2007, when subprime lender New Century Financial announced a.

Mad Money Holiday Special Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes Kenneth Brown Contents bear stearns cos.. investments 1.6 billion bait public-private investment program (ppip) Executive angelo mozilo Maverick investment bank Bear stearns’.

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In 2007, Bear Stearns reportedly had revenues in excess of $16 billion. Despite strong revenues, the subprime mortgage meltdown made 2007 a disastrous year for Bear Stearns, one of the nation’s largest underwriters of mortgage bonds and subprime mortgage securities in particular.

The Financial Times and the Wall Street Journal give complementary updates on the unraveling of the Bear Stearns subprime hedge funds, the larger of which was the High Grade Structured Credit Strategies Enhanced leverage fund. merrill lynch and Deutsche Bank put up over $1 billion in assets seized from the funds for sale today.

This is not the idle chatter of permanent bears. The subprime mortgage collapse now hitting Bear Stearns may be just the start. Serious analysts from big investment firms are talking ominously.

 · The subprime-mortgage crisis, pushed along by the high-profile collapse of two Bear Stearns Cos. Inc. hedge funds this summer, is turning out.

The list of major subprime lenders for 2006 and 2007 resembles the casualty roster from the Battle of Verdun in World War I. Only difference: way fewer walking wounded this time. Of the 30 biggest.