DealBook Blog: Bear Stearns Reports Steep 4th-Quarter Loss
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The loss of $854 million exceeded fears about how badly the bank was hurt by its subprime mortgage bets.
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ZURICH, Switzerland  -- UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other banks were by investments in U.S. subprime mortgages.
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NEW YORK -- Bear Stearns Cos. offered $3.2 billion in loans to bail out one of its failing hedge funds, the biggest rescue since 1998, after creditors started seizing assets and investors demanded their money back.
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GENEVA -- UBS AG said Wednesday it expects a record fourth-quarter loss of around $11.45 billion, largely from bad investments in U.S. subprime mortgages.
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Investment bank Bear Stearns Cos. Inc. , one of the nation's largest mortgage bond underwriters, said on Thursday quarterly earnings fell by a third as trouble in the mortgage market hurt bond trading revenue and it wrote down assets at a stock trading venture.
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Barclays PLC  may have tallied big losses in a Bear Stearns Cos.  hedge fund that invested in risky mortgages, The Wall Street Journal reported on Saturday.
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Goldman Sachs Group Inc's  bet  that securities backed by risky home loans would fall in value  brought nearly $4 billion of profits in the year ended November  30, the Wall Street Journal reported on its Web site on  Thursday, citing people familiar with its finances.
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Brokerage announces large Q4 loss and turns to China for capital.
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Subprime-related problems at UBS AG mounted on Wednesday as the Swiss bank unveiled $4 billion in new write-downs in a surprise statement and sank deep into the red for the year, depressing its shares.
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Bear Stearns Cos.  may take  until July 16 to tally losses at two struggling hedge funds  that invested in risky mortgage-related securities, The Wall  Street Journal Online reported on Monday.
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Goldman Sachs Group Inc.  and  Bear Stearns Cos. Inc.  are learning that it&#39;s a tough  time to be in the U.S. mortgage business.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.
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Stocks fell sharply on Friday, dragged lower by the heavily weighted financial sector after Bear Stearns Cos. Inc.  said it bailed out a hedge fund that is facing margin calls.
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UBS AG on Thursday posted a fourth-quarter net loss of $11.28 billion, and a loss for the entire year, besieged as other banks were by investments in U.S. subprime mortgages.
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Why did the stock decline after a blowout fourth quarter?
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Bear Stearns profits fall 61% as a result of the credit crisis and exposure to sub-prime debt.
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US investment bank Bear Stearns reports its first loss after making risky bets on sub-prime mortgages.