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amarkiii

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amarkiii

Re: MorningLightMountain post# 18929

Thursday, 06/19/2008 4:12:22 PM

Thursday, June 19, 2008 4:12:22 PM

Post# of 30354
Speaking of Bear Stearns

Charges at Bear Stearns linked to subprime debacle

By TOM HAYS, Associated Press Writer
3 HOURS AGO
NEW YORK - Two former Bear Stearns managers were arrested Thursday on securities fraud and other charges linked to the collapse of a hedge fund that bet heavily on subprime mortgages before the market collapsed, federal authorities said.

Matthew Tannin was taken into custody outside his New Jersey home on Thursday morning and Ralph Cioffi was arrested at his New York City home, the FBI said. They became the first executives to be charged criminally in the wake of the subprime market debacle
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