Tag Bear Stearns

Bear Stearns fund managers arrested for fraud

DailyMail photo. They say Cioffi was heckled after being arrested Ralph Cioffi and Matthew Tannin, former execs at Bear Stearns did that funky perp walk this morning after being arrested by the FBI on fraud charges. The collapse of the…

Bear sold for $2 a share

Bear Stearns has (had?) 14,000+ full time employees who owned one-third of all Bear Stearns stock, presumably much of it in retirement funds where they were not allowed to sell. Thus, thousands of people, many almost certainly not wealthy, just…

Stock market surprisingly calm

Bernanke is an academic and scholar of the Great Depression. Looks like that knowledge has been helping as the unprecedented, some say “out of the box”, moves by the Fed today have unquestionably stabilized financial markets that were on the…

Why Bear Stearns failed

Naked Capitalism details the multiple reasons for the collapse, the precipitating event being rumors of financial problems at Bear caused massive withdrawals of cash by hedge funds and other institutions. Did others deliberately push Bear and that Carlyle hedge fund…

Bear Stearns craters

Wall Street investment bank Bear Stearns received emergency 28 day funding today from JP Morgan and the NY Fed. BSC cratered on the news and closed at 30, down 27 points, a whopping 47% drop in just one day. Reports…