When bubble euphoria reigns, everybody’s giddy. Nobody asks questions. Then the punch runs out, the cops roll in… and start hauling people to the drunk tank. Happens time and again.
Federal prosecutors have begun a criminal investigation of Bear Stearns and its two troubled funds. Apparently, losing $1.6 billion, the future business of thousands of investors and going down in history as the poster child for reckless abandon during the credit binge wasn’t punishment enough.
Federal prosecutors have begun a criminal investigation of Bear Stearns and its two troubled funds. Apparently, losing $1.6 billion, the future business of thousands of investors and going down in history as the poster child for reckless abandon during the credit binge wasn’t punishment enough.
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