Federal Investigators Probe Bear Stearns Funds Collapse
The U.S. Attorney's office in Brooklyn has begun examining the circumstances behind the implosion of two Bear Stearns subprime hedge funds, CNBC has learned.
No subpoenas have been issued in the investigation, which is still in its early stages.
The funds in question, the High-Grade Structured Credit Strategies fund and the High-Grade Structured Credit Strategies Enhanced Leverage Fund, were shut down in July as the U.S. subprime mortgage crisis worsened.
Bear Stearns shares finished Thursday 0.52% lower at $127.61.