October 5, 2007
Feds Start Investigation into Bear Stearns Funds
Federal prosecutors are investigating two Bear Stearns mortgage-related hedge funds that were shut down in July with losses to investors of $1.6 billion. Bear Stearns Chair James Cayne says the worst is over for the firm, two weeks after the company reported third quarter losses. WSJ, Prosecutors Begin a Probe Of Bear Funds; NYTimes, Bear Stearns, on Upswing, Sees No Need to Seek Cash.
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