Bear Stearns managers jailed

[acptulsa]

A couple of the fund managers from Bear Stearns are in jail on fraud charges. Heard it on the BBC rebroadcast in the car and couldn't write down their names. Haven't found it in "print" yet...

 

[micahnelson]

Well, problem solved.

Looks like we found the men behind this whole problem!

 

[acptulsa]

Well, problem solved.

Looks like we found the men behind this whole problem!

Lol! I didn't hear anything about the person who let them get away with it being arrested...

 

[micahnelson]

Lol! I didn't hear anything about the person who let them get away with it being arrested...

No man, im telling you.

This whole problem, housing markets, oil prices, inflation... its these guys. They did it. Its not the fed, deficit spending, or anything...

We caught them.


Just like if we caught bin laden there would be world peace, catching these guys will fix all the problems with the economy.

 

[OptionsTrader]

Most likely just the tip of the iceberg regarding arrests for fraud in the derivatives market.

All the more reason to be holding SKF....

 

[acptulsa]

Most likely just the tip of the iceberg regarding arrests for fraud in the derivatives market.

It would be nice to think so, given that it's just the tip of the iceberg of fraud itself.

 

[jkm1864]

I assure You the real perps will never be caught. These people were the low men on the totem pole so its just natural that they pay the price.

 

[micahnelson]

These are scapegoats.

Don't hate the players, hate the game. The system is built on fraud, lies, and deception and we are going to point out any one individual as guilty? Its laughable.

 

[acptulsa]

Hardly worth clicking any of the listings for this yet. Few facts released so far. This is good as any:

http://www.npr.org/templates/story/story.php?storyId=91646101&ft=1&f=1001

Be nice to think they'll roll over on some fatter cats. Just hope the prosecutors jump when they do...

 

[tonesforjonesbones]

Oh baloney...they had to have a scapegoat. The jerks who are involved in the banking cartels are the culprits...and the big money families. The Schiffs, the JP Morgans, the Warburgs, the Rockefellers ...they will never be touched. TONES

 

[muh_roads]

..

 

[rapidtrends]

Scapegoats for sure.

 

[Kotin]

"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."


http://news.yahoo.com/s/ap/20080619/ap_on_bi_ge/bear_stearns_investigation

 

[tonesforjonesbones]

Hmmmmm.....TONES

 

[Paulitician]

Well, problem solved.

Looks like we found the men behind this whole problem!

No man, im telling you.

This whole problem, housing markets, oil prices, inflation... its these guys. They did it. Its not the fed, deficit spending, or anything...

We caught them.


Just like if we caught bin laden there would be world peace, catching these guys will fix all the problems with the economy.

These are scapegoats.

Don't hate the players, hate the game. The system is built on fraud, lies, and deception and we are going to point out any one individual as guilty? Its laughable.

Good points micahnelson, here's an interesting artical at Lew Rockwell that agrees with you.

 

[Primbs]

From what I have seen in the markets, Bear Sterns allegedly made markets for many questionable stocks and other investments in the last several decades.

Many small boiler room type operations would seek money and uses Bear Sterns to help sell their stock. By using the Bear Sterns name, some legitimacy was given was given to these cold calling outfits that spring up all the time.

 

[HOLLYWOOD]

what about the $100 BILLION WaMu has in LOSSES?

How about the $50 TRILLION CONGRESS has Extorted, Stole, Negligently Blown?