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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: robbie_nw who wrote (82838)6/19/2007 6:28:22 PM
From: CalculatedRisk  Read Replies (3) of 110194
 
Bear Stearns deal collapses. From the WSJ: Merrill Lynch To Dump Bear Stearns Fund's Assets
online.wsj.com

A day after managers of a troubled internal hedge fund at Bear Stearns Cos. presented lenders with a last-ditch plan to reinvigorate the fund with additional financing, creditor Merrill Lynch & Co. pushed forward with plans to sell hundreds of millions of dollars in collateral assets out of the fund, said traders late Tuesday.

Merrill has indicated plans to sell off at least $850 million worth of collateral assets, mostly mortgage-related securities, Wednesday afternoon, according to documents reviewed by the Wall Street Journal.

LOOK OUT BELOW!!!!
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