Bear Stearns Fund Managers Arrested

[falcon]

The feds are getting serious. When Uncle Sappo bails outBear Stearns, someone has to pay.




By TOM HAYS, Associated Press Writer 28 minutes ago


[/align][/align]NEW YORK - Two former Bear Stearns managers have been arrested, federal authorities said Thursday, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market.


[/align]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.

Authorities in Brooklyn are expected to release details later Thursday on the case against the men, who are ex-managers of Bear Stearns Cos. hedge funds that collapsed last year.

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[hillbillyhunter1]

Notice that the housing market didn't crash until after the demcrats had control of congress[8D]

[oldelkhunter]

Notice that the housing market didn't crash until after the demcrats had control of congress

Splain?

[hillbillyhunter1]

I just figured I'd say it before someone else did

[oldelkhunter]

Oh OK because they are going to try to pin that tail on any convenient donkey they can find.

[hillbillyhunter1]

Correct oldelk. It's funny to me how everything is either Bush's fault or, of course, the democrat's fault, depending on the hni member. I personally think they are ALL a bunch of crooks who generally protect their own intersest above everything else. Still, it is that kind of mentality ("our guy is bad but your's is worse") that promotes the slow spiral of mediocrity into worsening circumstance for all of us.

[bergall]

what fun is this, if we can't demonize someone and laud another ?

Besides, inflammatory statements are usually good for 2 or 3 more pages of heated rhetoric.



I had heard an explanation of the credit crunch situation as we currently enjoy it...I really don't know
what, outside of gov't regulation, could have prevented it ? So the gov't chose to let the bronco buck,
and now that the housing market is floundering, the dems propose various tax-funded bailouts for individual credit holders. I dunno...I also oppose new taxes (how the hell am I supposed to pay my mortgage if all my money goes to taxes for idiots who over-extended themselves and are now being bailed out with my tax dollars ?). Compound the proposed tax-funded bailouts with the higher cost of credit (the creditors are
CHARGING MORE for loans to pay off their losses with the deadbeats who can't pay their debts). This is
gonna stink a lot worse before the air clears.....

[hillbillyhunter1]

I agree bergall. If they're gonna let the bronco buck, then somebody's gonna get thrown. It should hurt when one lands. If not, then what's the lesson???

[kevin1]

Why the hell should the taxpayer bail out any business or individual? Both sides knew the risks of what they were getting into when they signed the contracts, let them swing for their mistakes. The first rule of business is survival, if you make bad choices you deserve to become extinct.

[bergall]

ORIGINAL: kevin1

Why the hell should the taxpayer bail out any business or individual? Both sides knew the risks of what they were getting into when they signed the contracts, let them swing for their mistakes. The first rule of business is survival, if you make bad choices you deserve to become extinct.

And that's the point. The dems propose a bailout of sorts, and when you hear that, put your hand in your pocket and get ready to shell out .