
Sunday August 05, 2007
Bear Stearns may fire president, but problems could grow
247wallst.com :
The Wall Street Journal reports that Bear Stearns is about to fire its co-president who is also head of its trading operations. He will be the highest-level person at the company to take the fall for the collapse of two hedge funds operated by the company and substantial trouble at a third. BSC shares have gone from $169 in February to $108 yesterday. And, that fall could continue. Firing management is rarely a sign that a company's troubles are behind it.
- Crash the economy or crash the dollar. The Fed dilemma. Turn on the taps, Fed!
Next episode : Crossroads!
(darn this is starting to sound Gundam-ish)
See also :
1. Bear Stearns fund value wiped out
2. Bear Stearns blocks withdrawals from third hedge fund
3. Banks losing up to $52 billion over subprime
4. BIS warns of Great Depression dangers from credit spree
5. S&P finally says subprime is mostly junk
(2007-08-05 19:22:13 SGT)
[Biz]
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