Ex-Bear Fund Managers Cioffi, Tannin Not Guilty of Fraud: Video
Bloomberg
Nov. 10, 2009. 04:36 PM EST
Nov. 10 (Bloomberg) -- Bloomberg's Carol Massar, Su Keenan and Matt Miller report on the acquitta... More »
Nov. 10 (Bloomberg) -- Bloomberg's Carol Massar, Su Keenan and Matt Miller report on the acquittal of former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin. A jury of eight women and four men deliberated less than a day before reaching the verdict. Cioffi and Tannin were accused of misleading investors who lost $1.6 billion. The trial was the first stemming from a federal probe into the collapse of the subprime mortgage-market, which cost investors as much as $396 billion and helped trigger a worldwide recession. Dennis Gartman, economist and editor of the Gartman Letter and Bloomberg contributor William Cohan also speak. (Source: Bloomberg) « Less
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