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Small funds face credit squeeze as prime brokers withdraw financial support
Summary from multiple countries, from articles in English
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The Federal Reserve's unusual decision to provide emergency assistance to Bear Stearns underscores a long-building concern that one failure could spread across the financial system. (article 3)
Wall Street firms like Bear Stearns conduct business with many individuals, corporations, financial companies, pension funds and hedge funds. (article 3)
London's embattled hedge fund community is bracing for a spate of blow-ups in the wake of yesterday's $16 billion ($7.9 billion) debt default by Carlyle Capital Corporation, the Dutch-listed affiliate of the American private equity group. (article 4)
Numerous small start-up credit hedge funds, managing between $10 million and $200 million of assets, are facing a funding squeeze, according to sources. (article 4)
This week's emergency credit market intervention by the US Federal Reserve was supposed to ease the liquidity crisis for struggling financial groups such as Carlyle Capital Corporation. (article 1)
What started as an innocuous offshoot of the American buyout group has overnight turned into one of the most high-profile and catastrophic failures of the crunch so far. (article 2)
That Carlyle, one of the world's largest and most influential private equity groups, could not rescue its mortgage-backed fund speaks to the sheer panic sweeping through global markets. (article 2)
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Other summaries about this story:
Other stories about Bear, Stearns and Fed:
Event tracking:
Story keywords
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Bear, Stearns, Fed, banks, Financial |
Source articles
- Fed just made matters worse, says Carlyle (ft.com, 03/14/2008, 376 words)
- Triple-A rating not enough to save Carlyle Capital Corporation (business.timesonline.co.uk, 03/14/2008, 774 words)
- A Wall Street Domino Theory (nytimes.com, 03/15/2008, 1082 words)
- Small funds face credit squeeze as prime brokers withdraw financial support (business.timesonline.co.uk, 03/14/2008, 746 words)
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blaster@cs.columbia.edu
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