India Daily- The Bear Stearns Hedge Fund Managers are getting indicted for starting the credit crisis. According to media sources, Federal prosecutors are preparing to file criminal charges against managers of two Bear Stearns Cos. hedge funds whose collapse helped mark the start of the credit crisis. The U.S. Attorney’s office in Brooklyn is in the process of completing interviews of witnesses and other key people in the case this week, and has indicated to lawyers with interest in the case that indictments could be imminent.
The former Bear Stearns managers, Ralph Cioffi and Matthew Tannin, managed two high-profile bond portfolios for the securities firm’s asset-management unit. Bo doubt they aere one of the helpers in triggering the crisis. But are they really the root cause of the credit crisis?