Barclays Adds Itself to List of Everyone That'd like Its Money Back from Bear Stearns

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It would probably be more cost effective to just ask everyone not miffed with Bear Stearns to raise his/her hand but we can't fit that many people into an auditorium so we'll just continue to re-report it here. Barclays PLC is getting litigious over what may be a $400 million loss from investments in the little hedge fund that couldn't. BarNloungeclays played a few roles in the meltdown of the hedge fund doomed to fail the second it was christened with a 12-- TWELVE-- word (and one hyphen) name. The Nazi sympathizers lent the Bear Stearns Asset Management High-Grade Structured Credit Strategies Enhanced Leverage Fund $200 million, which was paid off, and offered an additional $250 million, which was never extended. At issue is 400 mill. invested in the fund separately from the loan. BarNloungeclays is considering a negotiated settlement or litigation.
Scott A. Meyers, who represents clients invested in the BS hedge funds, told the Journal, "I would be astounded if there weren't lawsuits, given the magnitude and speed of the collapse," and the tendency of human beings to get their panties in a bunch when they lose money. "The fundamental
issue will be what caused the collapse," Meyers said, "a general market event, something specific to the way these funds were managed"--like James Cayne golfing during business hours--"or some combination of the two."
Barclays may sue to recover losses at Bear Stearns [MarketWatch]
Barclays Spars Over Its Losses at Bear Stearns [WSJ]