"The latest madness is that Bear Stearns Asset Management and Highland Capital have sought regulatory approval to list on US stock markets. They own credit assets including equity tranches of CDOs, collateralized debt obligations, better known as junk, subprime and ALT-A loans, etc. These are investments that carry high returns, which can be wiped out by the first few defaults in the portfolios of underlying debt that back them. Bear is dumping their garbage on the public, as usual."

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