Disaster? E-Mails Seen as a Flash Point for Bear Stearns Fund Managers’ Fraud Trial
October 12th, 2009
Law.com brings us this take on email disaster: “On April 22, 2007, Bear Stearns hedge fund manager Matthew Tannin sent an e-mail to fellow hedge fund manager Ralph Cioffi. “The entire subprime market is toast,” he said. “There is simply no way for us to make money — ever.” Three days after the now-infamous “toast” e-mail, Tannin reassured investors during a conference call, telling them he was “very comfortable with exactly where we are” and “there’s no basis for thinking this is one big disaster.” Continue reading….
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