Morning News Friday June 22nd 2007
General News: - Blackstone’s IPO opens 20% higher in morning trading. - Bear Stearns (BSC) will use $3.2 billion to stabilize their High Grade Structured Credit Strategies Fund. The re-pricing of CDOs will cause massive losses in the market. - Wall Street Journal is reporting that the FED economists predict more volatility in family income. - Bloomberg is speculating that the Chinese may invest $100 billion in foreign assets after a rule was lifted by the government restricting overseas investments. - Germany arrested Islamic radicals attempting to plan a suicide bombing mission. - Wall Street Journal reports that Congress is…