The Journal reports that Bank of America has filed a lawsuit against the asset-management unit of Bear Stearns that oversaw the two ridiculously named funds--High Grade Structured Credit Strategies Fund and High Grade Structured Credit Strategies Enhanced Leverage Fund-- invested in can't miss asset class, subprime. Managers Ralph Cioffi and Matthew Tannin have also been named in the suit, for allegedly misleading B of A about the "financial health" of the entities. According to an indictment from June, in March 2007, Tannin e-mailed a member of his team to say, "[b]elieve it or not-- I've been able to convince people to add more money." Unfortunately, the two weren't arrested (again) today, but let's get a replay of the dream team being taken downtown this summer.
Oh yeah, here's Ralph being escorted to federal court in Brooklyn:
'member this? It's Matthew, patiently waiting his turn for the same:
Memories. That's what it's all about. These kids know what we're talking about.
Posted by guest , Oct 30, 2008 10:00AM
Bullish on perp walks
Posted by guest , Oct 30, 2008 10:04AM
Lovin' the BSC pic... what a great find
Posted by guest , Oct 30, 2008 10:06AM
that slut 3rd picture on the left must be unemployed by now... bet she'll like some of my benefits...
Posted by guest , Oct 30, 2008 10:11AM
Did anybody see that clown Ken Lewis from BofA on 60 minutes? He was saying how he got BofA out of subprime because he is such a visionary.
Posted by GinNTonic , Oct 30, 2008 10:13AM
Greta picture... wondering what the dudes on top of the banner are singing to.
Posted by guest , Oct 30, 2008 10:18AM
they are singing - oh great leader cayne lead us through absency into bankruptcy
Posted by guest , Oct 30, 2008 10:22AM
"99 bottles of beer on the wall...OH FUCK WE ARE JOBLESS ASSHOLES NOW."
@4...he did more so than BSE, LEH, WM, C, ML...
Posted by guest , Oct 30, 2008 10:25AM
"La La La BofA hereby we offer you our pristine young asses, for you to rape"
Posted by GinNTonic , Oct 30, 2008 10:28AM
I was thinking "Don't Stop Beleiving."
Judging from the Coors Light bottle, at least they were saving beforehand.
Posted by guest , Oct 30, 2008 10:29AM
that baller in the middle has a Corona so this must be just after their first bonus
Posted by guest , Oct 30, 2008 10:32AM
@9...nice Journey reference...that fits well.
Posted by guest , Oct 30, 2008 10:33AM
Hope BofA finds someone to blame for "misleading" them into buying Countrywide.
Posted by guest , Oct 30, 2008 10:45AM
TOP TEN REASONS PEOPLE VISIT DEALBREAKER
10. To find out if they still have a job
9. Bess reminds everyone to check their fly
8. It’s Hitler-riffic
7. Lather, Rinse, Repeat -I have no idea what that means-
6. Jerry Springer reruns
5. Skipped the meeting with HR and their MD
4. Improve you’re grammer
3. The odor
2. ep and Muffie do bachelor parties
1.CNBC needs a story bitches
SPODE
Posted by guest , Oct 30, 2008 10:52AM
Hubris was widespread before the fall. It shall return.
Posted by guest , Oct 30, 2008 10:54AM
@14
Thanks for the wise words asshole.
Posted by Anal_yst , Oct 30, 2008 11:00AM
SPODE, you are a complete schmuck, please stop.
Posted by guest , Oct 30, 2008 11:35AM
i think they were singing
http://www.youtube.com/watch?v=wmIObmv2t6M
--FUNdamental
Posted by guest , Oct 30, 2008 11:47AM
@Spode: Blessed is he who in the name of charity and goodwill shepards the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children.
You shall walk the earth (like Kaine in Kung Fu). Your sainthood is in the wings. Go now, my child!