01-14-2009, 09:25 PM
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A small group of Bear Stearns investors is getting back every cent they lost
A small group of lucky Massachusetts investors in two now-defunct and worthless Bear Stearns hedge funds received an unexpected Christmas windfall: the return of 100 percent of their original investment in the billion-dollar funds.
The checks—some for as much as $1 million—were sent to the investors last month, after a confidential settlement between the state of Massachusetts and Bear Stearns Asset Management Inc., which is now owned by JPMorgan Chase.
“My investment in these two hedge funds turned out to be one of the best investments I made in 2007,” joked one very happy investor, who got all his money back in the settlement. “I should have invested more...
The Bear Stearns Lucky Bastards - The Daily Beast
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