Did Bear Stearns Execs Cioffi, Tannin Lie To Wall Street, Too?

BusinessWeek:

Federal prosecutors may not be done with former Bear Stearns hedge

fund managers Ralph Cioffi and Matthew Tannin, who were charged on June 18 with lying to investors about the precarious state of their once-giant portfolios. BusinessWeek has learned that authorities are now examining the funds' dealings with Wall Street banks to determine whether the managers misled them as well.

Investigators are gathering more evidence about possibly misleading comments Cioffi and Tannin made to major lending and trading partners, according to people close to the probe. Among them: Bank of America (BAC), Barclays (BCS), Dresdner Bank, and Merrill Lynch (MER).

Read the whole story: BusinessWeek

Comments

[arvay]

Will this turn out like Abu Grab, where a few low-lying types are thrown publicly to the wolves while the fat cats escape?

[LABoomer]

Hang em high, then hang em low.

[darthdarcy]

No Way, Liars on Wall Street, say it ain't so...say it ain't so..

Is nothing sacred..?

[MemphisBuffalo]

The place to find honest people are Wall Street and businesses like Bear Stearns. lol Why is a question mark needed in this headline. What infant writes this stuff?

[kellygrrrl]

break out the hoof-cuffs

[writerforhire]

Money crimes are sexy: Corporate crime not so sexy so less of it gets covered. Wall Street is an ambitious environment where money flows like water and where money flows like water there will always be someone some where trying to work out a new irrigation technique that will lead the money to their land.

Where ever there is ambition, greed or jealousy you'll have corruption. If you think you deserve it you'll find a way to steal it.

[BlueBerryPickN]

YA THINK???

There is no 'we' in corruption­...
http://thiscanadian.typepad.com/this_canadian/2008/03/there-is-no-we.html

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