Bear Stearns

  • Bear Stearns

    Bear Stearns Repo Boss Goes To Hedge Fund

    We’re still closely following the career paths of the refugees from the collapse of Bear Stearns. Last night we learned that Matt Chasin, who ran repo financing activities for mortgage and structured products at Bear Stearns, has been hired as chief operating officer by Sorin Capital. Chasin’s duties in this newly created position will be […]

    / Aug 12, 2008 at 3:20 PM
  • Bear Stearns

    Bear Stearns Tell All Blames Goldman Sachs and Hank Paulson For Bear’s Collapse

    A senior managing director at Bear Stearns derivatives trading desk has reportedly anonymously authored a book about the bank’s demise. The book, called “Bear Trap: The Fall of Bear Stearns and the Panic of 2008,″ was obtained by Fox Business anchor Liz Claman. It tells the story of Bear’s demise from the inside, and insists […]

    / Aug 1, 2008 at 1:19 PM
  • Bear Stearns, Fed, JPMorganChase

    Taxpayers Will Pay Price For The Bear Stearns Bailout

    Late Thursday afternoon, long after the markets had closed and many on Wall Street had long since evacuated for the long weekend, the Federal Reserve revealed its estimates for the value the Bear Stearns assets it accepted as collateral for the $28.9 billion loan JP Morgan Chase used to buy the firm and prevent its […]

    / Jul 7, 2008 at 8:14 AM
  • Bear Stearns

    Why The Bear Stearns Duo Had To Take The Fall

    We’ve written a lot about how Ralph Cioffi and Matthew Tannin seem to have had the misfortune of being assigned the role of fall guys for the collapse of Bear Stearns, an event in which they arguably played a minor and peripheral role. But this morning a report from National Public Radio reveals that it […]

    / Jun 26, 2008 at 9:10 AM
  • Bear Stearns

    “I Absolve You:” Feds Blame Cioffi and Tannin for Misleading Wall Street

    Federal prosecutors are investing whether Ralph Cioffi and Matthew Tannin misled not only investors but also their lenders and counterparties. BusinessWeek reports that Ben Campbell’s office, the Brooklyn-based Eastern District, is considering further charges against the two former Bear Stearns hedge fund managers, who currently face both criminal and civil charges.

    / Jun 26, 2008 at 8:48 AM
  • Bear Stearns

    The Chilling Effect Of The Bear Stearns Prosecution

    At the heart of the indictment of former Bear Stearns hedge fund managers Matthew Tannin and Ralph Cioffi is an email exchange in which Tannin questioned the performance of the funds. Federal prosecutors are treating those those emails as the smoking gun in the case against them, saying the men privately knew the funds were […]

    / Jun 24, 2008 at 8:46 AM
  • Bear Stearns

    Two Bear Executives Land Top Jobs At Banks

    Two former executives at Bear Stearns have landed top positions at two very different banks. Michael Solender, who was Bear’s general counsel, has been hired by Washington Mutual as chief legal officer. He was one of a number of Bear executives who sold a number of shares in December, three months before the firm cratered. […]

    / Jun 24, 2008 at 8:26 AM
  • Bear Stearns

    One Bear Stearns Asset That’s Getting Bid Up: Indicted Hedge Fund Manager’s Business Card

    Last week, former Bear Stearns hedge fund manager Matthew Tannin found himself sitting in a Brooklyn jail cell, charged with defrauding investors in a collapsed hedge fund. The University of San Francisco law school graduate was quickly released on bail, of course. And friends say he’s been pouring his energies into training for a triathlon. […]

    / Jun 23, 2008 at 12:53 PM
  • Bear Stearns

    Bear Stearns Indictments: Could Jimmy Cayne Be Next?

    Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin were indicted on charges of conspiracy, securities fraud, and wire fraud this week. Prosecutors are focusing on statements they made reassuring investors about the financial condition of their hedge fund even as it collapsed. Now professor of law at New York University points out that […]

    / Jun 20, 2008 at 9:31 AM
  • Bear Stearns

    Bear Stearns: The Comic Book

    We’re not sure quite what’s in the drinking water over at Portfolio but we want some! Yesterday Portfolio made the collapse of Bear Stearns into a graphic novel. The comic book version focuses on the “run on the bank” and the bailout/sale to JPMorgan Chase. We just wish they had put a bit more about […]

    / Jun 17, 2008 at 10:05 AM
  • Bear Stearns, Regulators

    Bear Stearns And The Criminalization of Failure

    Federal prosecutors are preparing to file criminal charges against managers of two Bear Stearns hedge funds that collapsed at the dawn of the credit crisis last year. Although it’s being described as the conclusion of a year long investigation, it seems very likely that Ralph Cioffi and Matthew Tannin there wouldn’t be facing criminal charges […]

    / Jun 16, 2008 at 3:45 PM
  • Bear Stearns, Credit Suisse, Lehman, Sports

    The Bear Stearns Name Lives On…At Least On The Lacrosse Field!

    A few weeks after it was revealed that Bear Stearns would be acquired by JP Morgan Chase, the Wall Street Journal’s Kelly Evans reported on the unwritten fate of Bear Stearns champion lacrosse team. “Among the remaining questions hanging over Bear Stearns Cos. is this: What happens to its lacrosse team?” Evans wrote. “Bear Stearns […]

    / Jun 9, 2008 at 4:17 PM
  • Bear Stearns, Fed, Lehman

    Is The Federal Reserve Going To Close The Investment Banking Window?

    Widespread expectations that the borrowing window opened to investment banks in the midst of the Bear Stearns collapse last March will be made permanent may be misplaced, according to a longtime Fed watcher and banking expert we spoke with today. It may also explain why Lehman was so eager to shore up its balance sheet. […]

    / Jun 9, 2008 at 4:07 PM
  • Banks, Bear Stearns, Blackstone, Citadel, JC Flowers, Lehman

    Is There A Market Gap In Post-Bear Investment Banking World?

    David Ellis asks who might “fill the hole” in the investment banking world left by the collapse of Bear Stearns. The usual names get bandied about: Blackstone, JC Flowers and Citadel are the top contenders. All three have expanded into areas traditionally dominated by investment banks. And, as Ellis points out, in the not-so-distant past […]

    / Jun 9, 2008 at 12:27 PM
  • Bear Stearns

    Evercore Picks Up Bear Stearns Bankruptcy Expert

    We’re still fascinated with the diaspora of Bear Stearns veterans. This morning Reuters tells us that Evercore Partners has picked up Daniel Celentano, who was a senior managing director at Bear Stearn specializing in bankruptcy. Evercore already has a bankruptcy practice but apparently something about the current state of the economy tells them that this […]

    / Jun 5, 2008 at 9:54 AM
  • Bear Stearns, JPMorganChase

    JP Morgan Spinning Off Bear Stearns Private Equity Unit

    Bear Stearns private-equity unit, Bear Stearns Merchant Banking, is expected to announce that it will be spun off into an independent company with JPMorgan Chase as its largest investor. JPMorgan will assume around $1 billion of BSMB’s “investments and commitments.” BSMB manages around $5 billion. Sadly, it looks like they are planning to drop the […]

    / Jun 5, 2008 at 9:33 AM
  • Bear Stearns, James Cayne

    Portrait of Jimmy Cayne Is Sold

    Bear Stearns is gone, and now so is the portrait of fallen chief executive and company chairman Jimmy Cayne by Geoffrey Raymond, the artist who has painted Eiliot Spitzer, Jim Cramer (twice), Lloyd Blankfein and Dick Grasso. It was sold to the wife of a former Bear Stearns employee. She paid $12,000.

    / Jun 3, 2008 at 2:55 PM
  • Bear Stearns, Wall Street History

    The Wall Street Graveyard

    As regular readers know, we’ve got a thing for Wall Street history. So we’re really glad that the kids over at Portfolio put together a wonderful interactive feature detailing what happened to some of the once powerful and now vanished Wall Street firms.

    / May 30, 2008 at 2:18 PM

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