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Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes
Feb 08, 2008Bear Stearns, bitten badly by the housing crash, is short more than $1 billion on subprime mortgage securities — a big bet by the investment bank that the woes that have driven a historic collapse in the mortgage market are likely to continue. Bloomberg reported that Bear CFO Sam Molinaro said Friday that the New York firm’s “short” positions have jumped from $600 million at the end of November as the company has trimmed its positions in CDOs and underlying RMBS bonds. From the report:
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Revenge of the Nerds: QSPEs an Endangered Species
Feb 06, 2008 -
States Don’t Want to Issue a Bond Called ‘Bad Debt’
Feb 01, 2008 -
Merrill To Reimburse City for ‘Unauthorized’ CDO Purchase
Feb 01, 2008 -
Commentary: FAS 140, Bloomberg Columnists, and the Truth
Jan 31, 2008 -
House Passes Economic Plan; Would Temporarily Boost FHA, GSE Limits
Jan 30, 2008 -
Fannie’s Mudd: Boosting Loan Limit Will Provide Liquidity
Jan 29, 2008 -
Countrywide’s Fourth Quarter: Ouch
Jan 29, 2008 -
Mortgage-Related Charges Drive 98 Percent Drop in Profit at Wachovia
Jan 22, 2008
