Ex-Bear Stearns Fund Managers Arrested by FBI Agents

Discussion in 'Wall St. News' started by makloda, Jun 19, 2008.

  1. http://www.bloomberg.com/apps/news?pid=20601087&sid=aefVn_KahdBI&refer=home

    June 19 (Bloomberg) -- Two former managers at Bear Stearns Cos. hedge funds were arrested at their homes this morning by agents of the Federal Bureau of Investigation over their roles in the collapse of hedge funds that ignited the subprime mortgage crisis last year.

    Ralph Cioffi, 52, was arrested at his Tenafly, New Jersey, home and Matthew Tannin, 46, was arrested at his Manhattan apartment, said James Margolin, a spokesman for the FBI's New York office. He said they were to be taken to federal court in Brooklyn for a court appearance later today in connection with an indictment.
  2. Hmmm...most probably they both have been impressed by these two protagonists =>


    :D :D :D
  3. weren't well connected enough...
  4. Daal


    the lesson is, always use skype when commiting federal violations
  5. You know why this crap happens right?

    I've been telling you this all along.

    These gangsters are overpaid.

    Pay a man enough and he'll sell his mother.

    You know I'm right.

    I'm never wrong.
  6. Just some scapegoats to appease the masses. They weren't doing anything out of the ordinary, not on Wall Street.
  7. ken__0


    Agree the fed R wanted to get rid of Bear stearn's entirely they were unsuccessfull lol.
    So this is the outcome 2 little indictment's.
    they gunna have to try harder then that
  8. How come they didn't get "Mr. perpetual tan", Mozillo, from Countrywide yet?

    Oh, he's got friends in high places. Never mind.
  9. According to FBN, they lied to prosecutors. they're toast. And they are just the beginning. I've said many times the Feds are all over the place.

    this is just the start. No crying. You made the money. You cheated, you lied, now, you pay. Just the way it is.

    Cramer did say, this is the way it's done. If they are going to prosecute this type of behavior, you know, fraud, lying, misleading customers, he says to buy the Correctional stocks. Crames, you know I call him Crames, wants to be ont eh winning side. He's like the Italian Army.
  10. I bet that they are the only hedge fund managers that ever lied to their invesors about their upcoming performance results in an attempt to keep the fund alive...:D
    #10     Jun 19, 2008