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Liquidity Crisis Goes Global

08/09/07 - 04:16 PM EDT

Liz Rappaport

Thursday's news follows nearly a month of market volatility that has featured failing hedge funds at Bear Stearns, the virtual shutdown of mortgage lender American Home Mortgage (AHM - Cramer's Take - Stockpickr) and steep losses at competitors such as Luminet (LUM - Cramer's Take - Stockpickr) and Accredited Home (LEND - Cramer's Take - Stockpickr).

Rumors about other hedge funds suffering big losses continue to make the rounds, including those centered on Goldman's Global Alpha Fund. Goldman Sachs said rumors that the fund will be shuttered are "categorically untrue," The Wall Street Journal reports. But Goldman is closing its $500M North American Equity Opportunities Fund, TheStreet.com's Mark Decambre reports.

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In keeping with TSC's editorial policy, Rappaport doesn't own or short individual stocks. She also doesn't invest in hedge funds or other private investment partnerships. She appreciates your feedback. Click here to send her an email.

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