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Paul Kiesel
Paul Kiesel
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Bear Stearns Executives to Face Criminal Charges

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Criminal charges are being filed against managers of two Bear Stearns hedge funds whose collapse triggered the credit crisis last year, this according to the Wall Street Journal.

Following interviews later this week, there is a chance that indictments may occur shortly thereafter.

The two managers facing charges are Ralph Cioffi and Matthew Tannin, both being charged with securities fraud. Bear Stearns and JP Morgan Chase, which just acquired Bear Stearns, appear to be safe from any other charges that could be filed.

As of right now, no parties are commenting on the matter.

It’s good that we’re finally seeing some of the people who helped create the problems in the housing and credit markets be brought to justice. Also, it will be very interesting to hear/gather all of the details, motives and negligence that allowed for Bear Stearns’ fall and Wall Street’s recent troubles.