Bear Stearns Hedge Fund Managers Arrested


	Bear Stearns Hedge Fund Managers Arrested

papananook

6-19-2008 9:27 AM

178 views

papananook says:

But it's not onna et back the bailout money --b'bye to billions in taxpayer $$$

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/16b2a6db-e26f-4571-a2c0-4ae876250215/39089EC5-087F-4432-9A14-9EAD4EDBDCC6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.npr.org/templates/story/story.php?storyId=91681040" href="http://www.npr.org/templates/story/story.php?storyId=91681040" style="font-size: 11px;">www.npr.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><P><SPAN class="program"><A href="http://www.npr.org/">NPR.org</A>,</SPAN> <SPAN class="date">June 19, 2008 · </SPAN> Two former Bear Stearns hedge fund managers were arrested Thursday morning and are expected to be indicted on charges of securities fraud as part of a yearlong federal investigation into the mortgage crisis, officials close to the investigation told NPR.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.npr.org/img/EEC79EEF-2191-4CB6-9449-FBAFCB2F3ACA" alt="A man walks out of Bear Stearns headquarters in New York." /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><P class="caption">A man walks out of Bear Stearns headquarters in New York in March. Last month, shareholders approved the investment bank's sale to J.P. Morgan Chase & Co. <SPAN class="rightsnotice">Getty Images</SPAN></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><P>Matthew Tannin and Ralph Cioffi are the highest-level Wall Street executives to be charged in connection with the mortgage crisis so far.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><P>As first reported by NPR Wednesday, prosecutors allege the men told investors that two of their funds were in good shape, while privately telling colleagues they were worried about the funds' prospects. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.npr.org/templates/story/story.php?storyId=91681040"><P>The two funds had a high level of exposure to bonds backed by subprime mortgages. They eventually collapsed and their investors lost about $1.6 billion. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/39089EC5-087F-4432-9A14-9EAD4EDBDCC6/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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