Monday, June 25, 2007

More on the Bear Stearns Mess -- Investors like Steerage Passengers on the Titanic?

Do you remember reading how the steerage-class passengers on the Titanic were locked below decks and could not get up on deck until all the lifeboats were gone?

"The decline turned into a tailspin last month when Bear Stearns Asset Management, which had more than $29 billion of 'structured-credit assets' as of Dec. 31, suspended redemptions in the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund ...
Barring investors from withdrawing money from a hedge fund typically is the first sign of an impending collapse." Worldwide

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