Ex-Bear Stearns Fund Managers Arrested by FBI Agents

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

  1. Totally wrong. They go with what they can prove. IF you kill 100 woman, and they can absolutely get you for one, that's where they go.

    FBN reported they lied to Fed Prosecutors. If that's the case, they're dead anyway.
     
    #31     Jun 20, 2008
  2. #32     Jun 21, 2008
  3. This just keeps on getting worse and worse every day. Publicity stunt perhaps?

    Obviously Bear Stearns messed up, but the question now is whether this investigation will lead to exposing corruption in other firms as well.
     
    #33     Jun 21, 2008
  4. here's a ? for you sophisticates.

    What % of managers are guilty of this exact same crime and will NEVER b charged.

    No answer below 0 or above 100% will be accepted.
     
    #34     Jun 21, 2008
  5. There are plenty of guys who do it right. Who knows the percentage that do it wrong.

    What I do know is, there are many managers who cannot compete because they don't cheat. No way, if you play fair, you can keep up. But, these guys are great sources for us, because the authorities are asking questions, and the good guys are very happy to comply.
     
    #35     Jun 21, 2008
  6. `Fear' E-Mail

    The indictments brought to light e-mail conversations that allegedly took place between the two men and others about the health of the funds, including a March 15, 2007, message from Cioffi to a team economist with the subject line ``Fear.''

    ``As we discussed it may not be a meltdown for the general economy but in our world it will be,'' the indictment quotes Cioffi as writing. ``Wall Street will be hammered with lawsuits. Dealers will lose millions and the CDO business will not be the same for years.''


    ...

    Cioffi acknowledged in a private e-mail that certain types of CDOs, which included subprime debt rated AAA or AA, were ``not really AAA'' because they were subject to heightened risk of defaults, according to the indictment.

    :D :D :D :D
     
    #36     Jun 22, 2008
  7. So, wouldn't a top notch hedgie shorted that paper, knowing the eventual downgrade would pay them in spades? They just painted themselves in a corner they could not have gotten out of.
     
    #37     Jun 22, 2008
  8. I'd love to see the emails at Goldman Sachs during this period also.

    Something like this.... "As we discussed it may not be a meltdown for the general economy but in our world it will be. Wall Street will be hammered with lawsuits. Dealers will lose millions and the CDO business will not be the same for years. I recommend we keep selling the CDOs but also short the ABX index. This way we have a win-win". :)
     
    #38     Jun 22, 2008
  9. more fresh meats for the bros.
     
    #39     Jun 22, 2008
  10. Why are you wasting your time.

    If you don't know that 99% of these hucksters knew it was a scam BEFORE it blew up, no less after the stench started, then you believe in the tooth fairy and Obsama's presidency.

    The other 1% are high on dope.

    [​IMG]
     
    #40     Jun 22, 2008