Two subprime mortgage-related Bear Stearns funds that had seen their market value reduced to virtually nothing have filed for bankruptcy protection, according to AP/Yahoo Finance.A Bear Stearns spokesman had not confirmed this at deadline time, but did confirm a New York Post report that Bear has reportedly not been immune to the credit crunch that growing subprime concerns have spurred in the overall market, and has suspended withdrawals on one mortgage-related fund with a relatively small exposure to the subprime sector as a result. A Bear Stearns representative confirmed that the company suspended the withdrawals because it did not believe it was "prudent to sell assets in this current market environment."

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