Institutional investors

Update: Bear Stearns Tells Investors Subprime Hedge Funds are ‘Almost Worthless’ 

Updating an earlier post, it looks like those in the financial markets had good reason to brace themselves for bad news — but I doubt even those braced for the worst were expecting to see a near complete collapse of the two Bear Stearns funds I’ve been blogging incessantly about during the past month.