Bear Stearns Makes $1 Billion Bet on Continued Subprime Woes

Rumors circulated about ABX losses – ranging from $300 million to $1 billion – at Goldman Sachs, Bear Stearns and Merrill, although none were confirmed as of press time. morgan Stanley circulated a multi-million dollar warehouse cdo liquidation bid list Thursday morning comprising subprime, Alt-A, CDO and CMBS securities.

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1 Stocks continued to. two fund managers from Bear Stearns were arrested by the FBI for misrepresentation of their funds. This situation caused investors worldwide to lose billions of dollars. Bear.

 · Bear Stearns collapsed overnight because it became clear at the end of this past week that they didn’t have enough collateral to continue running even their day-to-day operations, and since the FDIC doesn’t provide protection for commercial banks, there was a good old-fashioned run on all of their deposits (everyone with accounts there started.

On that view, even paying 1.2 times book – what Goldman is paying for its $2.6 billion stake in. the impact of the escalating woes of the U.S. subprime mortgage market. Unlike Morgan Stanley,

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since 2007, when problems with subprime mortgages first gained national. The information flow continued after the deals were sold to investors. Bear Stearns was heavily involved in every aspect of subprime lending, from. fund Scion Capital made almost $1 billion in profits using a similar strategy to Paulson,

 · In September 2012, MBIA sued JPMorgan (and Bear Stearns, which was acquired by JP Morgan in 2008), alleging that Bear Stearns altered a third-party due diligence report so that MBIA would insure a $1.16 billion mortgage securitization.

So, it makes sense to start putting on solid positions. to banks or thrift institutions from the problems in the subprime market." Comforting words, right? Even before two Bear Stearns hedge funds.

In addition, Bear Stearns was carrying more than $28 billion in ‘level 3’ assets on its books at the end of fiscal 2007 versus a net equity position of only $11.1 billion. This $11.1 billion supported $395 billion in assets , [9] which means a leverage ratio of 35.6 to 1.

In an ongoing lawsuit, the FDIC is accusing former Washington. Bank of America Home Loans does not make subprime mortgage. Other companies, such as Bear Stearns, Lehman Brothers, and. Citigroup just agreed to pay a $285 million fine to the SEC for betting against one of its mortgage-related.