Thursday, Jun 19, 2008
Architects of Credit-Fuelled Housing Mania Off to Jail
NY Times: 2 Former Bear Stearns Managers Arrested
The case hinges on the prosecution demonstrating that the two managers wilfully misled investors to keep their money in funds that they knew were failing. Unfortunately, the defense could just claim that the managers acted in good faith rather than out of deliberate market-fixing. If they are convicted, however, it might serve as a good precedent for bankrupt BTL-ers to sue the Kirsty Allsopps of the world who are still urging everyone and his dog to get into property, insisting that it's a good time to buy.
Posted by an bearin bui @ 04:21 PM (149 views) Add Comment
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