Bear Stearns' Collateral Damage

Money manager Jeffrey Epstein, BNP Paribas, and other investors are mired in Bear's troubled hedge fund that bet big on subprime mortgages

The implosion of a hedge fund often sheds some unwanted attention on the wealthy investors who chose to sink money into the venture. That's certainly the case with an 11-month-old Bear Stearns hedge fund that bet heavily on risky bonds backed by subprime mortgages and is teetering on the verge of collapse (see, 7/9/07, "Mutually Assured Mayhem").

To continue reading this article you must be a Bloomberg Professional Service Subscriber.