Bear Stearns Managers!

Did you all hear about this? It appears that two former Bear Stearns hedge fund managers were arrested and thrown in jail for lying to investors about the subprime mortgage market. Both men pleaded not guilty and we’re released on bond. One man’s bond was set at $4 million and the other guy had to put up $1.5 million. To keep this story short, they got caught by sending emails back and forth to each other, dumb. They we’re saying to each other is was time to close the funds. But at the same time asking people to invest more. Here’s a kicker, one of the men pulled $2 million of his own money out after he just told investor to put more in. I truly hope both of these guys spend some time in jail. When your in a trusted position like this, and your lying to investors, you deserve everything you get in the end – 20 years in prison.

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This entry was posted on Thursday, June 19th, 2008 at 10:08 pm and is filed under Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.