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SEC Probes Bear Fund: Report
The Securities and Exchange Commission may be taking a look into the subprime mess that has hobbled a pair of Bear Stearns (BSC Quote) hedge funds.
According to a report by Business Week, citing people familiar with the situation, the SEC has launched a preliminary probe into what led the Bear Stearns' High-Grade Structured Credit Strategies Enhanced Leveraged Fund to nearly meet its end.
The fund, along with the related High-Grade Structured Credit Strategies Fund, are run by Ralph Cioffi and invest in collateralized debt obligations -- mortgage securities that have been structured as bonds and pooled for resale to investors. ...
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