Hedge Fund Investors Seek Money Bear Does Not Have


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]


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Should Bear Stearns' CFO Not Have Told Investors Liquidity Was Rock Solid When Internally Telling Colleagues The Company Was As Dry As The God Damn Sahara?

It's almost as though "liquidity is very strong" and "we need more liquidity ASAP" aren't totally synonymous.

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Hedge Fund Manager Who Spent Investor Funds On Prized Teddy Bear Collection Gets Five Years Lopped Off Sentence

Teddy-loving Paul Greenwood will be home sooner than he and his beloved stuffed animals thought.

Hedge Fund Manager Who Ripped Off Bear Stearns May Do 200 Years

Let this be a lesson to anyone hoping to avoid a couple centuries in prison-- nobody fucks with Jimmy Cayne's roach clip and gets away with it!