By Barbara Cohen
CIO, Pure Reason, LLC.
Bear Stearns was one of the first Stock Brokerages to be hit with Subprime losses.
Two of their funds had sustained major losses.
Its High-Grade Structured Credit Enhanced Leverage Fund was once worth $638 million was now worth nothing. Its High-Grade Structured Credit Fund lost 91% of its value amounting to $925 million. (more…)