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Subprime Hedge Fund Trouble: One Fails, Another Cuts 

More news today suggests that the fallout from the subprime mortgage crunch on Wall Street hasn’t moderated just yet. First, Bloomberg reports that Cambridge Place’s Caliber Fund will fold due to losses associated with subprime mortgage debt investments: Caliber Global Investment Ltd., a $908 million fund invested in subprime mortgage debt, will close as losses widen on defaulted U.S. home loans.