Former Bear Stearns managers Ralph Cioffi Jr. and Matthew Tannin are charged in connection with allegations they misled investors as the two
hedge funds they helped run collapsed amid the subprime mortgage meltdown
This announcement unleashes many questions for lots of people.
Im wondering why, in April of 2008, John McCain said bailing out Bear Sterns was essential to the economy, and helped push for a federally backed 30
billion dollar aquisition of the company, but that he refused to bail out the people who got screwed by Bear Sterns.....
( Source )
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