Bear Stearns Not Guilty
Wednesday, November 11, 2009
The trial of two former Bear Stearns hedge fund managers ended in acquittals. WNYC reporter Lisa Chow recaps the Bear Stearns trial and analyzes its impact. Then, William Cohan, contributing Fortune editor and author of House of Cards: A Tale of Hubris and Wretched Excess on Wall Street, looks at what that means for accountability for the meltdown.
Comments [4]
it's sickening that they mislead their clients about the percentage of sub-prime investments in the fund and STILL managed to walk free.
such excellent lawyers. worth every godDamn penny those wall street douche-bags paid them with money they lied and stole from unsuspecting clients.
god bless america and capitalism. veteran's day 2009 - i'm disgusted with this verdict. is this the freedom the army is defending? it's not worth defending!
Hedge funds have good reason to cheer today -- every last investment banker sporting an uncircumcised frontal lobe jumped ship to hedge funds after their close calls with the fuzz INSERT BELOW
in 2002, which led to Sarbanes Oxley rules
and the profits marched on
Hedge funds have good reason to cheer today -- every last investment banker sporting an uncircumcised frontal lobe jumped ship to hedge funds after their close calls with the fuzz. Short of regulating derivatives and offshore entities, horrors, the Keystone Kops could prosecute only moral outrage at greedy incompetents sending creepy emails to one another. Praise is deserved to the jury for upholding the law, and by doing so, pointing to its gaping holes.
With this ruling, Hedge funds, defined solely by their ability to do whatever they want so long as it doesn't involve Murder 1, have reached a new zenith of power.
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