Fundies Arrested

Posted Thu, 06/19/2008 - 06:12 by rba
Patricia Hurtado+David Scheer/Bloomberg: Ex-Bear Stearns Fund Managers Arrested by FBI Agents (Update3) Cioffi was a senior portfolio manager of the two funds that collapsed and Tannin served as his chief operating officer. The hedge funds invested almost all of their assets in subprime- mortgage-related securities. [Also see: Brian Baxter/AmLaw: Federal 'Frenzy' Surrounds Arrests of Former Bear Stearns Hedge Fund Managers]. Reminds me of Lou Gottlieb's bit about cowboy movies (from memory): There's no such thing as a bad cowboy, only a sick one. These boys decided to follow the socio path, which always leads to a bad end. :: :: :: Photo © Jin Lee/Bloomberg

Comments

Hoocoodanode....

by susie dow - 06/19/2008 - 07:22
Did you catch the little snippet that there were 400 arrests this week?
jimstaro's picture

400

by jimstaro - 06/19/2008 - 08:34
More than 400 charged in mortgage probe
More than 400 people have been charged in a nationally coordinated probe of mortgage fraud that involved an estimated $1 billion in losses, the U.S. Justice Department said on Thursday.
Tell the world: My America Doesn't Torture!

"that I will support and defend the Constitution of the United States against all enemies, foreign and domestic">

Rats from sinking ships

by rba - 06/19/2008 - 09:06
This from last week: Reuters/UK: Ex-Capital One employee files whistleblower lawsuit (12 Jun). < rant > Previously on f*ck the people, give me the money: Cayman Island & Lichtenstein tax havens, billions in palletized cash gone in Iraq, whistleblower's everywhere being gagged (including the energized "Bunny" way back), "Richistanis", and not one correction, change, amendment, bill, or regulation enacted to correct the practices. And where is the "progressive left"? Sitting in it's own intellectual waste, stuffed to the gills with self-importance, having not a whit of the common sense god gave a f*cking rock, self-righteously dancing to their own anthem: I, me, me, mine. < /rant > So, how's the weather . . . out your way?
jimstaro's picture

Sunny

by jimstaro - 06/19/2008 - 09:49
Comfortable temps, and I'm bored as hell waiting to see if anyone is going to sign contracts so we can get back to work, and we're not the only ones. Looks like it's going to be a loooong boooooring summer with little work, most likely because folks can't use their homes like the piggy banks they have been, or their loosing them, and we do work for the higher brackets of the younger! Tell the world: My America Doesn't Torture!

"that I will support and defend the Constitution of the United States against all enemies, foreign and domestic">

Smiley face

by susie dow - 06/19/2008 - 11:47
It's always 72 degrees and sunny...insert smiley face here. It's turned into the oppressive heat associated with Southern California that everyone likes to pretend doesn't really exist. Rba...I love the idea of a new series called, F*ck the People. This week on F*ck the People, bank regulators turn a blind eye...and demand more power...stay tuned.

FtP? Sure

by rba - 06/19/2008 - 12:15
I think we'd have enough to fill volumes in the past six years alone. :-)
jimstaro's picture

Perp Walk

by jimstaro - 06/19/2008 - 13:09
Tell the world: My America Doesn't Torture!

"that I will support and defend the Constitution of the United States against all enemies, foreign and domestic">

Plumbers

by susie dow - 06/19/2008 - 14:24
Anyone else wondering just how high up the food chain this really goes? You just know the two were very leetle fish....

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