Bear Stearn's (BSC) Train Wreck

According to Bear Stearns (BSC), the two funds that it has which invested in sub-prime debt instruments now have little or no value.

As The Wall Street Journal writes: "Investors are struggling to place values on assets tied to sub-prime home loans." The answer is that they may be worth very little.

The sub-prime problems at hedge funds and investment banks is not going away, and it may well get much worse.

Douglas A. McIntyre