2009-10-12 — bloomberg.com
Former Bear Stearns Cos. hedge fund managers Ralph Cioffi and Matthew Tannin are either responsible for triggering a $1.4 billion hedge fund implosion or are scapegoats for a government eager to affix blame for it.
Jurors selected for a trial beginning tomorrow in Brooklyn, New York, federal court must decide whether the two men misled investors about the health of two hedge funds that collapsed in 2007. The debacle was followed a year later by the failure of Bear Stearns and its purchase by JPMorgan Chase & Co., the bankruptcy of Lehman Brothers Holdings Inc., the U.S. takeover of Fannie Mae and Freddie Mac and the rescue of AIG Inc.
tvsterling at 18:46 2009-10-12 said:I have a bit of traditional criminal's advice for these two criminals; "The first to roll (turn state's evidence) is the first to parole." Also watch out for those lawyers,"Your case is lookin' good" (UNTIL you run out of money) . Then suddenly your case isn't so good. Those lawyers are all the same. Permalink
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.