{"id":598,"date":"2007-06-24T14:59:00","date_gmt":"2007-06-24T14:59:00","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/32_billion_move_by_bear_stearns_to_rescue_fund\/"},"modified":"2007-06-24T14:59:00","modified_gmt":"2007-06-24T14:59:00","slug":"32_billion_move_by_bear_stearns_to_rescue_fund","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=598","title":{"rendered":"$3.2 Billion Move by Bear Stearns to Rescue Fund"},"content":{"rendered":"<p>From the NY Times:<\/p>\n<p>Bear Stearns Companies, the investment bank, pledged up to $3.2 billion in loans yesterday to bail out one of its hedge funds that was collapsing because of bad bets on subprime mortgages.<\/p>\n<p>It is the biggest rescue of a hedge fund since 1998 when more than a dozen lenders provided $3.6 billion to save Long-Term Capital Management.<\/p>\n<p>The crisis this week from the near collapse of two hedge funds managed by Bear Stearns stems directly from the slumping housing market and the fallout from loose lending practices that showered money on people with weak, or subprime, credit, leaving many of them struggling to stay in their homes.<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2007\/06\/23\/business\/23bond.html?ei=5087%0A&#038;em=&#038;en=c53f5d73f78ef93a&#038;ex=1182744000&#038;pagewanted=print\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From the NY Times: Bear Stearns Companies, the investment bank, pledged up to $3.2 billion in loans yesterday to bail out one of its hedge funds that was collapsing because of bad bets on subprime mortgages. It is the biggest<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=598\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-598","post","type-post","status-publish","format-standard","hentry","category-economics-politics"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=598"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/598\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}