• 08 Apr 2008 at 2:03 PM

Hedge Fund Investors Seek Money Bear Does Not Have

By Bess Levin

Remember that pair of hedge funds Bear had a movie reviewer running which, in retrospect, wasn’t the best idea and might’ve contributed to their collapse? Bunch of the people who lost their money when the two ridiculously named funds went under are still upset about the situation. Geoffrey Varga and William Cleghorn, the court appointed liquidators representing the parties that got fucked, argue that Bear shouldn’t have told investors everything was “shipshape” when in reality the funds could not survive “even a slight downtick” in the mortgage market. They want $1 billion plus punitive damages. The empty shell of Bear Stearns has offered free coffee FOR LIFE in settlement talks.
Bear, Auditor Sued Over Mortgage Funds’ Collapse [FINalternatives]

Comments (8)

  1. 1
    Posted by american bandersnatch | April 8, 2008 at 3:15 PM

    Bess:
    Your posts are real and they are spectacular!
    Chris

  2. 2
    Posted by guest | April 8, 2008 at 3:42 PM

    Love the Seinfeld shot.

  3. 3
    Posted by guest | April 8, 2008 at 3:42 PM

    Love the Senifeld shot.

  4. 4
    Posted by guest | April 8, 2008 at 4:17 PM

    @3:42 NOT AS MUCH AS WE LOVE YOUR DOUBLE POSTS!
    Were you laid off when JPM cut BSC’s handicap employment program???

  5. 5
    Posted by guest | April 8, 2008 at 5:05 PM

    seriously, are you still playing the BSC “HEP” joke, definitely backofficel…..

  6. 6
    Posted by guest | April 8, 2008 at 5:16 PM

    @4:17pm. First, if you look at the “double” posts, you’ll see that one differs slightly from the other. “Seinfeld” was spelled differently in the two posts. The commenter may have wanted to make sure he or she spelled the name correctly. I can live with that.
    Second, haven’t you used that Bear Stearns disabled employment joke about five or six times now? It was mildly offensive and dumb the first time you used it …
    Well, you get my point.

  7. 7
    Posted by guest | April 8, 2008 at 5:29 PM

    I’d be worried if an outfit called Varga-Cleghorn were representing my interests.

  8. 8
    Posted by guest | April 9, 2008 at 8:53 AM

    ..not if you’re into Star Trek and Klingon lore…

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