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Bear Stearns Fund Managers Acquitted
Two former Bear Stearns hedge-fund managers were acquitted Tuesday on charges of lying to investors. Ralph Cioffi and Matthew Tannin, who prosecutors say cleared out at least $1.4 billion of investors' money, became the poster boys for Wall Street corruption and the irresponsible money management that led to the global financial crisis. Cioffi raked in $17 million in bonuses in 2006, while Tannin took in $2.5 million. The two faced up to 20 years in prison, however a New York jury acquitted them based on a defense that they were victims themselves. Bear Stearns folded in 2007, an early casualty of the financial collapse.
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If I'd been the prosecutor I would have gone for a change in venue. Maybe someplace with a lot of bank failures--like Georgia. Nothing against our friends in the Big Apple, but a lot of people there make their money--or know someone who makes their money--on Wall Street. I'd hazard that finding an impartial jury in NY would be on par with what we saw at the first OJ trial--meaning, throw impartiality out the window.
I think, in the fairness of loss of life, and investment funds, and harm to people who ended up homeless or without pension plans.........
Maybe the great "they" should have executed these two as well.
But, now they are freed to go out harming others.
[acquitted ... based on a defense that they were victims themselves]
With enough money and the right lawyer, everybody is a victim.
And the civil suits will begin. That's always the best revenge
I have just one question:
WHERE DO THEY LIVE?
BOKO
Thank you.
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