About Stone Lion Capital, mentioned in the last post as having suspended redemptions…
The last bubble “pop” began when on June 22, 2007, Bear Stearns had to “bail out” one of its funds, the Bear Stearns High-Grade Structured Credit Fund, while negotiating with other banks to lend to another fund, the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund. As the “High-Grade” in the name should tell you, the contents of these funds was anything but.
The founders of Stone Lion Capital:
- Alan Jay Mintz, CPA, a co-founder of Stone Lion Capital was Co-Head of the Distressed Debt and High Yield trading group at Bear Stearns
- Gregory Augustine Hanley, a co-founder of Stone Lion Capital was Co-Head of the Distressed Debt and High Yield trading group at Bear Stearns
In other words, the same guys.
How can it be that people give their money over to be managed by (unprintable) like these? We’re so focused on ISIS, we need to pay more attention to the enemies within – Wall Street and its captive partners in crime, the SEC and the Federal Reserve. They are destroying more people’s lives more subtly and effectively than ISIS ever dreamed of.