Rough Seas? Prime Brokerages Change Tack To Navigate Choppy Markets

Wall Street and reality TV don’t usually go hand in hand. But as the collapse of Bear Stearns, the sub-prime mortgage meltdown and a handful of high-profile hedge fund blowups force major changes in the way hedge funds borrow and employ leverage, the prime brokerage industry is in the middle of what can only be called an extreme makeover.