The Independent Streak

Former Subprime Hot Shots Take A Walk

By Mary Kane 06/19/2008 02:48PM

For all you perp walk fans out there - yes, you have watched too many "Law and Order" reruns - here's former Bear Stearns managers Ralph Cioffi and Matthew Tannin taking their perp walks to federal court in Brooklyn, in this photo gallery from Bloomberg. The two were charged with securities fraud today stemming from their roles in the subprime mortgage meltdown. No doubt video should be available soon.
 

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Comments:

gilmanc
Posted 06/19/2008 03:07pm with

Wait,

Are they being charged because of their role in the subprime meltdown? What was their role in it?

I thought it was for defrauding investors by lying about the extent of the meltdown to those investors.

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