Wednesday, November 11, 2009

Bear Stearns managers not guilty in sub-prime hedge-fund collapse

Bear Managers’ Acquittal May Hamper U.S. Fraud Prosecutions

The jurors said after the verdict that the evidence presented wasn’t enough to convince them of guilt. “Everything contradicted,” said Jenny McCaughey, the jury forewoman. “The e-mails went both ways. They say one thing one time and another thing another time. The government didn’t give us enough to go on.”... “There is reason to believe that the funds weren’t going to tank, that’s what they believed,” the lawyer told jurors.

Posted by mountain goat @ 12:36 PM (802 views)
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One thought on “Bear Stearns managers not guilty in sub-prime hedge-fund collapse

  • Jurisprudence for good or for bad?

    Hopefully for good = their bosses were to blame. Sharpen the guillotines chaps, and don’t book any holidays soon.

    Maybe for bad = nothing to see here folks…….

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