Nice article on Bear Stearns mortgage funds in the US:

Funds are called:

"High-Grade Structured Credit Enhanced Leveraged Fund" and "High-Grade Structured Credit Fund".

How could an investor not feel a warm inner glow? It's all about the less savvy investor not being able to understand or evaluate risk (as per the property mezzanine finance companies which have gone bust here in OZ).

First worth almost 0, second approx 10% initial outlay.

"The crisis has dented the reputation of New York-based Bear Stearns, which has been known as an expert in the mortgage market."