"As we discussed it may not be a meltdown for the general economy but in our world it will be. Wall Street will be hammered with lawsuits. Dealers will lose millions and the CDO business will not be the same for years."
- Arrested Bear Stearns toxic loan hedge fund manager Ralph Cioffi, in his intercepted March 2007 email subject line "FEAR". Meanwhile, he was out pumping the funds and raising more cash from clueless investors. And now the US taxpayer holds $29 billion in unsaleable likely-worthless Bear Stearns garbage.
Showing posts with label ben bernanke screwed America and there wasn't even a vote. Show all posts
Showing posts with label ben bernanke screwed America and there wasn't even a vote. Show all posts
June 22, 2008
HousingPANIC Quote of the Day
Subscribe to:
Posts (Atom)
