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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (82888)	6/20/2007 11:21:47 AM
From: Paul Kern	Respond to of 110194

JPMorgan Selling Bear Stearns Hedge Fund Assets -CNBC Last update: 6/20/2007 11:07:02 AM NEW YORK (Dow Jones)--JPMorgan Chase & Co. (JPM), Deutsche Bank AG (DB) and other firms are already in the process of selling assets held as collateral for loans to a Bear Stearns Cos. (BSC) hedge fund, CNBC's Charlie Gasparino reported Wednesday. JPMorgan began selling some of the seized assets Tuesday night, while Deutsche Bank has a list of $300 million in assets that it intends to sell, Gasparino said, citing sources he didn't name. Another firm or firms have drawn up a list of $575 million list of seized assets, Gasparino said. Merrill Lynch & Co. (MER) on Friday became the first creditor to seize assets from the Bear Stearns' fund over concern it wouldn't be able to meet a margin call, The Wall Street Journal reported this weekend. The bank is to auction off about $850 million in assets this afternoon, a person familiar with the matter said Wednesday. The highly leveraged Bear Stearns fund made different bets on the health of subprime mortgages, both positive and negative, but has been hurt particularly by a negative bet after a rebound on a key index that tracks the sector. -By Christopher Hinton, Dow Jones Newswires; 201-938-5285; christopher.hinton@dowjones.com (END) Dow Jones Newswires June 20, 2007 11:07 ET (15:07 GMT)