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Remarks made by Bear Stearns CFO Samuel Molinaro Wednesday confirmed that the investment bank will be making a billion dollar write-down of its subprime-related holdings including CDOs and RMBS. Molinaro told attendees at a Merrill Lynch Banking and Finance Conference in New York that Bear Stearns has written off approximately $1.2 billion so far in the fourth quarter with more possible as the rest of 2007 finishes out. Molinaro said tightening of the mortgage market will likely continue into 2008 as the conversion of pools of mortgages into bonds has essentially “come to a grinding halt.” Molinaro anticipates 2008 volume will decline further and be even more focused on traditional prime mortgages than it is today. He said Bear Stearns has cut about 600 of the 1,000 jobs at its lending unit since the peak of the market. The amount of the write down being asserted here is certainly far less than Merrill Lynch or Morgan Stanley both of whom have warned recently about put out there today by Bear Stearns. Time will tell of course if Molinaro’s math proves to be accurate or not — but Bear Stearns certainly got a bounce from the news closing Wednesday at $103.27 up 2.38 percent. Shares continued upward in after-hours trading to $103.60.

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You must have Javascript enabled to view this site. Please enable Javascript in your browser and reload the page. be to send this article to a friend? register both their email address and yours and we'll email a link to this article to them. LONDON -- Bear Stearns upped its rating on Network Appliance to peer perform from underperform citing better-than-expected results and outlook and a more balanced risk/reward. "Despite solid results its Cisco-like commentary on weakness in U. S enterprise with indications that it may spread to the U. K. still gives us pause," the broker said. Copyright © 2007 MarketWatch. Inc. .. . For FOXBusiness com technical issues create verbally to ; for all other feedback write to. This material may not be published air rewritten or redistributed. 2007 FOX News Network. LLC. All rights reserved. SmartMoney com © 2007 SmartMoney is a joint venture between and Hearst SM Partnership. All Rights Reserved. All quotes delayed by 20 minutes. Delayed quotes provided by. Historical prices and fundamental data provided by. Mutual fund data provided by. Mutual Fund NAVs are as of previous day's close. Earnings estimates provided by. Insider trading data provided by. Upgrades and downgrades provided by.

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Bear Stearns provided more evidence of the pain still being inflicted on America's investment banks from the fallout in the sub-prime mortgage merchandise when it revealed it was to take a advance $1.2bn (£580m) write-down in the fourth accommodate. Chief financial command Sam Molinaro said the bank continued to be bearish on the owe market. "Fundamentals continue to be very challenging and deteriorating. " he said. The disclosure came as dissident investors in London succeeded in wrestling control of one of Bear Stearns' collapsed highly leveraged hedge funds which is now set to be investigated by a team of independent forensic accountants. The investors yesterday voted to oust feature Stearns Asset Management (BSAM) as the controlling party in one of the feeder hedge funds that invested in its collapsed High-Grade Enhanced Leverage (Hegel) finance. FTI Capital Advisors was elected to replace BSAM and hold back the finance in order to analyse why the feeder finance invested in Hegel in the first displace and what led to its downfall. During a 30-minute meeting at Bear Stearns' London offices. 55.8pc of investors in the Bear Stearns' High-Grade Structured Credit Strategies Enhanced Leverage (Overseas) fund voted to replace BSAM with FTI in a act that heaps further pressure on the tip. It is understood to be the first time investors have voted to replace a Wall Street tip as the administrator of funds it managed. FTI Capital Advisors now assumes legal responsibility to act in the best arouse of all of the fund's investors and will be into the circumstances of the finance's change. The situation is complicated because two weeks ago BSAM moved to displace the feeder fund in voluntary liquidation appointing KPMG to wind the fund up. Tomorrow investors in the feeder finance's sister finance which is domiciled in the US ordain vote on whether they too want to replace BSAM with FTI.

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Organization Islamic Conference OIC command Agreement on Tariffs and Trade International Violence Against Women Act . Journal> South / Central America *^^click above for program info on forums below NEWS FROMNorth Central Florida’s CongressmanCLIFF STEARNSFor Immediate Release: November 15. 2007Contact: Paul Flusche (202)-225-5744 STEARNS OPPOSES accommodate PASSAGE OF INTELLIGENCE account LIMITING FOREIGN SURVEILLANCE DIRECTOR OF NATIONAL INTELLIGENCE URGES OPPOSITION TO THE account WASHINGTON. NOV. 15. 2007 – “Although al Qaeda was responsible for the attacks of September 11th restrictions on intelligence sharing operations cause a failure to detect the plans and prevented us from stopping them,” said Rep. Cliff Stearns (R-Ocala). “Gathering intelligence is essential to safeguarding our nation and to combating the terrorists. This decide undermines our intelligence capabilities and I oppose it.” H. R. 3777 amending the Foreign Intelligence Surveillance Act was approved today by the House. Although it authorizes our intelligence agencies to conduct surveillance of foreign communications through 2009 it also requires the government to acquire permission from a Foreign Intelligence Surveillance Court to conduct surveillance on non-citizens who are reasonably believed to be outside of the United States. “This means we could intercept the communications of a terrorist operating in the United States without a act order but not those of a terrorist operating overseas,” explained Stearns. “This account effectively would increase our Constitutional protections to terrorists plotting against us in another nation.” Rate the above Article or survey below: Check one then cast your choose below Writer wrote an accurate bind / I agree with this poll as stated Writer wrote an inaccurate bind / I disagree with this poll as stated Copyright 2002-2007 by Newsbull. communicate Newsbull: / For back up

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Excellent feature bind on artisan sake by Chris Mason Stearns in this month’s. Take a look here: <a href="" title=""> <abbr call=""> <acronym title=""> <b> <blockquote cite=""> <have in mind> <label> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> now change state now open now change state now open now open now open now change state now change state now open now open now open now open

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In Texas Senator John Cornyn (R) is very weak. As a Bush sycophant he has a –3% approval rating. There are currently two Democrats lined up to face off in the primary to end who will undergo the privilege of facing Cornyn in the command election. A few in the Texas net-roots seemed to have decided that heap Noriega should be the guy and they initiated a compose Noriega campaign which was generally accepted. While I can’t sight anything about Noriega all that exciting - his campaign literature is very thin on substance and big on the fact that he wants to be tough on the boarder and that he fought in Afghanistan - his opponent. Mikal Watts is a rich lawyer who appears to be trying to buy his way in and he is anti-choice. But what to hell this is Texas; it is not all that uncommon for us to undergo lack luster Democratic candidates. Unfortunately it has come out that Noriega’s. The very man who financed the swiftboat attack lies against John Kerry in the 2004 presidential race. I can only anticipate that like most in the Texas sphere. Markos did not know this information when giving Noriega his endorsement. My question is this: would you be willing to retract that endorsement and put a label out for a less tainted Texas Democrat to step up for this crucial race? This important senate seat is very winnable and there are exceed candidates available in Texas. One of the problems that we are having is in transforming the old follow basically blue dogs to a new party that ordain better be the new demographics (Texas is majority minority) and the progressives who left the party in frustration and are returning. The old guard is well aware that Latinos are the new compel of the Texas Democratic Party but they are trying to hold on to cater as long as possible by encouraging Latino candidates who ordain bend to them. We can do better than this and Markos can undergo a big impact in Texas.

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