(Reuters) - NEW YORK, June 26 - Bear Stearns Cos. Inc. does not plan to bail out a second struggling fund that invests in repackaged debt securities, a source familiar with the matter said on Tuesday, while a company the investment bank set up to invest in the securities withdrew plans for an initial public offering.
The hedge fund is one of two managed by Bear Stearns that are suffering from investments in repackaged subprime mortgages, which have suffered from rising defaults as a downturn in the U.S. housing market has proven deeper and lasted longer than expected.
Read more at Reuters.com Bonds News
The hedge fund is one of two managed by Bear Stearns that are suffering from investments in repackaged subprime mortgages, which have suffered from rising defaults as a downturn in the U.S. housing market has proven deeper and lasted longer than expected.
Read more at Reuters.com Bonds News
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