Two Bear Stearns executives face charges, along with the arrest of 400 other property market players by the F.B.I. Matthew Tannin and Ralph Cioffi were both arrested at their houses this morning. Both are charged with securities fraud, wire fraud, and many SEC violations.
All I have to say is - ITS ABOUT TIME. The French took out their players within hours - arrested and have already begun the trials of their people. The Swiss have done the same. We're always the slowest moving nation on the planet...
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