MARKET ALERT
from The Wall Street Journal.July 31, 2007
Bear Stearns, already forced to shut two hedge funds that bet heavily on the risky subprime-mortgage market, is now facing big losses in a third fund that has roughly $900 million in mortgage investments, according to people familiar with the matter.
The $850 million Bear Stearns Asset-Backed Securities Fund has suspended investor redemptions and expects losses in July.
Also, Japan down over 1% right now.
Posted by: onlineaces
at July 31, 2007 10:22 PM
Source: Bill Cara: Cara’s Daily Commentary, Tues., July 31, 2007, 11:09 AM
1 comment:
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