The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
Saturday, June 21, 2008
NEVER STEAL ANYTHING – SMALL
"Two former managers at investment bank Bear Stearns have been charged with fraud related to two hedge funds which collapsed in June last year. Ralph Cioffi and Matthew Tannin, who managed the funds, were arrested in New York and later granted bail. It is alleged they knew of the funds' problems but did not disclose them to its investors, who lost a total of $1.4bn (£709m)." (BBC News, 20 June) RD
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