..., or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Kellogg School of Management. Investment Banking Hedge Funds Leverage Financing Banking Crisis Credit Crisis United States The thornier question...

... Banking Crisis Credit Crisis United States At the heart of the rumors that consumed Bear Stearns were novation orders, requests sent by Bear clients to other investment banks asking them to assume contracts agreeing to buy or sell securities to Bear in exchange for a fee. Bear managers alleged...