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Nofsdad
Joined: 06 Jul 2003
Posts: 7085
Location: Central CA
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Posted: Mon Jun 16, 2008 3:24 pm Post subject: Charges may come against ex-Bear Stearns execs
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Always maintained that there had to be more to this whole Bear Stearns thing than we were hearing in the media at the time we taxpayers were being billed for JP Morgan's "rescue".
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| NEW YORK (Reuters) - U.S. prosecutors are preparing to file criminal charges against managers of two Bear Stearns hedge funds whose collapse helped kick off the credit crisis last year, the Wall Street Journal reported on Monday. |
So if these two BS pogies were doing the fraud thing by buying and selling bad debt, what about the rest of them that were doing the same thing? Going to be interesting to see what was so different about their tiny little part in this whole sorry mess.
The Rest Of The Story
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bc5yr
Joined: 24 Feb 2005
Posts: 479
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Posted: Tue Jun 17, 2008 1:51 am Post subject:
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I do have issues with this. Apparently their "coaches" (used to be called managers" were not at fault, IE.. liable, or overseerers., or any other name you want to call them. Only the guy in the middle pays the price? I've read many articles and wonder. WHO? is EXACTLY ? responsible? Apparently the Tax payer? just indict the middle guy., who can't win for losing. Squeezed from both ends., and KNEW it was wrong to begin with. but went along with the program. I would guess it must be a personal integrity thing with me.
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Nofsdad
Joined: 06 Jul 2003
Posts: 7085
Location: Central CA
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Posted: Tue Jun 17, 2008 2:17 am Post subject:
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It's a personal integrity thing with a lot of us BC. It's not a hard concept to understand when you put it on that basis. We all have our own level of personal ethics/morals by which we form our opinions of what's right and what's wrong.
I think our main failure is in the sometime inability to understand that we are dealing with entities that have no such sense of personal integrity, or ethical or moral standards and that the people who run them are necessarily devoid of those qualities to a large degree also. They are, as we've been told numerous times now, responsible only to themselves.
I agree with you wholeheartedly that these guys are going to wind up being the sacrificial goats. I think they're being tossed off the bus in order to distract attention from any further probing into the operations of these companies during the sub-prime "bubble". That was the basis for my statement:
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| So if these two BS pogies were doing the fraud thing by buying and selling bad debt, what about the rest of them that were doing the same thing? Going to be interesting to see what was so different about their tiny little part in this whole sorry mess. |
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