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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>More Backstory on the Bear Stearns Hedge Funds Meltdown | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="QQ3GpIumkE"&gt;&lt;a href="https://www.nakedcapitalism.com/2007/06/more-backstory-on-bear-stearns-hedge.html"&gt;More Backstory on the Bear Stearns Hedge Funds Meltdown&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2007/06/more-backstory-on-bear-stearns-hedge.html/embed#?secret=QQ3GpIumkE" width="600" height="338" title="&#x201C;More Backstory on the Bear Stearns Hedge Funds Meltdown&#x201D; &#x2014; naked capitalism" data-secret="QQ3GpIumkE" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>I&#x2019;m a bit late to this article from Friday&#x2019;s Financial Times, &#x201C;Bear Stearns assured investors on leverage,&#x201D; which gives some new information on the formation of the Enhanced Leverage Fund, the one that went into crisis first, and how it went pear shaped. Cioffi had the bad luck to not only have some trades fall [&hellip;]</description></oembed>

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