Thursday, 2 October 2014
Last updated 14 hours ago
Feb 7 2008 | 1:04pm ET
Bear Stearns may be in serious legal jeopardy over the collapse of two credit hedge funds last year.
Already facing hundreds of millions in claims from aggrieved investors, who lost $1.6 billion in the High-Grade Structured Credit Fund and a more levered sister vehicle, the Wall Street firm is now facing the prospect of a federal indictment.
Federal prosecutors are in talks with high-ranking Bear executives, CNBC’s Charlie Gasparino reports, and have already spoken with Rich Marin, the former head of Bear Stearns Asset Management. According to Gasparino, an indictment of the firm is possible.
The two Bear funds went bankrupt last year after huge losses in subprime mortgage-linked bonds and other credit assets.
In December, the Securities and Exchange Commission announced it was investigating the withdrawal of $2 million from the funds by former manager, Ralph Cioffi, who has since left the firm.
Bear Stearns, Fortress Talked Merger
Bear Hedge Fund Manager Cioffi Out
Hedge Fund Investors File Legal Claims Against Bear Stearns
Bear Wants Manager Of Bad Hedge Funds To Stay
Mass. Sues Bear Over Collapsed Hedge Funds
Collapsed Hedge Fund Investors Seek Bear Ouster
Bear Bitten By Hedge Fund Collapses, Mortgage Crisis
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...