Stearns, creditors may save hedge fund
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Bear Stearns Cos. , the biggest broker for US hedge funds, has offered to provide $1.5 billion in loans to help rescue a money-losing fund run by its asset management unit, according to a person familiar with the situation.
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The House Financial Services Committee will draft legislation requiring U.S. hedge funds to keep copies of trading data and will take a closer look at the role of credit rating agencies in the collapse of some funds linked to subprime mortgages, the panel chairman said on Wednesday.
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Bear Stearns Asset Management CEO Richard Marin is taking a stronger role in managing its two troubled hedge funds and tapped mortgage unit head Thomas Marano to save one of the funds, two sources familiar with the decision said.
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Bear Stearns Cos. Inc.  does not plan to bail out the second of two struggling hedge funds -- citing stabilizing markets -- but the subprime loan woes that brought down the funds still worry investors.
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WASHINGTON -- A U S presidential panel said the current system of hedge fund regulation is "working well" and market discipline remains the best way to protect investors and guard against risks to the financial system.
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Bear Stearns Cos. Inc.  does  not plan to bail out a second struggling fund that invests in  repackaged debt securities, a source familiar with the matter  said on Tuesday, while a company the investment bank set up to  invest in the securities withdrew plans for an initial public  offering.
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Bear Stearns Cos Inc's   management shake-up could make the investment bank a takeover  target, but the possibility of more write-downs and chance of  legal entanglements from the subprime mortgage crisis could  sideline suitors for now, analysts said on Tuesday.
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NEW YORK -- Merrill Lynch &amp; Co. will proceed with a plan to sell about $800 million of bonds from a money-losing hedge fund run by Bear Stearns Cos. , a day after delaying a similar auction, people with knowledge of the offering said.
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Regulators said on Wednesday that Bear Stearns Cos. Inc.  should be able to unwind the positions of its two troubled hedge funds without causing wider financial market distress.
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Bear Stearns Cos. Inc.  may have to bail out a second troubled hedge fund that it manages, Merrill Lynch analyst Guy Moszkowski wrote on Monday.
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Bear Stearns Cos. Inc.  on Friday said it will provide up to $3.2 billion in financing for a struggling hedge fund it manages, but sources said a second fund is still working out a restructuring plan with creditors.
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A hedge fund group is pressuring CNet for changes. Usually that means the investors think the company is undervalued and want to push management to sell.
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An Australian hedge fund felled by its exposure to risky credit derivatives filed for bankruptcy protection in the United States, and liquidators on Thursday were assessing how much money, if any, would be returned to investors.
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Barclays claims Bear Stearns loaded one of its hedge funds with about $500 million in troubled assets just weeks before it and another of its fund collapsed.
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NEW YORK, June 22 -- Bear Stearns confirmed Friday it will bail out one of its troubled hedge funds with $3.2 billion in secured loans, but the Wall Street firm sought to convince the broader market that its troubles were "relatively contained."
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Some banks expected to contribute to a fund to bail out troubled securitized investment vehicles (SIVs) are losing interest as they doubt the fund's ability to provide a solution to the credit crunch, the Wall Street Journal reported on Wednesday.
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Market discipline will protect investors and the economy from problems with hedge funds, regulators said today.