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Two former Bear Stearns managers arrested

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Uploaded by on Jun 20, 2008

Two former Bear Stearns managers arrested
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Source: CCTV.com | 06-20-2008 09:21
Two former Bear Stearns managers have been arrested in connection with the failure of a hedge fund that bet heavily on subprime mortgages.
Matthew Tannin was taken into custody outside his New Jersey home on Thursday, while Ralph Cioffi was arrested at his New York City home. They became the first executives to be criminally charged in the wake of the sub-prime market collapse.

An FBI official strongly condemned the practice of the executives, saying they had "prostituted their client trust in order to salvage their personal wealth".

Since the beginning of March, over 400 people have been arrested in a Justice Department crackdown on US mortgage fraud in a sting dubbed "Operation Malicious Mortgage".




Editor:Du Xiaodan

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News & Politics

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  • AMERICANS WORKING HARD TO MAKE THE BANKS RICH, ISNT THIS SLAVERY?! Pls help expose the Zionist Bankers in Government that own the Federal Reserve and the Media!!! Masons and Skull and bones members, influenced by Aipac and Israel!

  • hang them by their eye lids

  • CRUCIFY THEM AT WALL AND BROAD.

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