• 15 Jul 2009 at 12:32 PM

Not So Fast Ralph Cioffi

By Greg Michaels

Ralph Cioffi.jpgWe are now one step closer to hearing Ralph Cioffi swear that he will tell the truth, the whole truth, and nothing but the truth. Cioffi lost his bid to dismiss insider trader charges after he failed to convince a judge that he had no fiduciary duty to clients when he allegedly cashed out of funds he managed using non-public information before one of them collapsed. Ralphie ran away with $2 million from the subprime-laden Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund Ltd and Bear Stearns High- Grade Structured Credit Strategies Master Fund Ltd back in 2007 before other investors learned the hard way that CDOs packed with the loans of people who didn’t understand what the term repayment meant aren’t always a safe bet.

Comments (11)

  1. 1
    Posted by guest | July 15, 2009 at 12:39 PM

    Ba-ba-ba… Ba-ba-ba-blanus!

  2. 2
    Posted by guest | July 15, 2009 at 12:43 PM

    Greg,
    Mommy is feeling better now. Was walking funny for a little while but I can at least sit down now. What time will you be home for dinner?
    Mom

  3. 3
    Posted by guest | July 15, 2009 at 12:46 PM

    Muthaf**kers act like they forgot about Greg.

  4. 4
    Posted by guest | July 15, 2009 at 1:03 PM

    ( ! )
    :

  5. 5
    Posted by mrpink | July 15, 2009 at 1:08 PM

    poor ralphie….
    FREE CIOFFI!
    -mrp

  6. 6
    Posted by guest | July 15, 2009 at 1:10 PM

    What’s the dilly-o, Master Pink? Back in NY from Chi-town?
    Inquiring minds await your reply.

  7. 7
    Posted by mrpink | July 15, 2009 at 2:06 PM

    Hanging with Stan O’Neal and John Thain somewhere between the 2.
    -mrp

  8. 8
    Posted by guest | July 15, 2009 at 2:18 PM

    I’m glad none of that shit rained down on us at Not Bear Stearns High-Grade Holy Shit Slab Stealing Structured Default High and Inside Credit Strategies Enhanced Seventh Inning Stretch MAC Invoked Cassano Approved Leverage Jiggled Cleavaged Dickweed Meat Ball Sandwich Gold Ball Dipped Master Fund Sauna Jumper Scoops Ltd.

  9. 9
    Posted by guest | July 15, 2009 at 2:56 PM

    I love the statement that Ralph is now with RCAM Capital. Who’s kidding whom? He’s running his own money, most likely out of his house in Tenafly. I wonder how much new money has come into Ralph Cioffi Asset Management.

  10. 10
    Posted by guest | July 15, 2009 at 8:24 PM

    @1 worse than Dennis Kneale and that’s sayin’ something.
    @2 Used to be enjoyable, now you’re showing the strain much like Seinfeld Guy. Might be time to put that shit to rest while everyone still remembers the funny posts. Just sayin’, not sayin’. I think it’s time to lose it while you can still bring it back on a cameo basis while it still has a shred of humor left in the franchise.
    Again, just sayin’.

  11. 11
    Posted by guest | July 15, 2009 at 11:11 PM

    I still shake my head in amazement every time I read the name of that fund: “Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund”. Try to imagine yourself getting on the phone with a prospective buyer and saying that insane, self-contradictory mouthful. I just can’t muster one synapse worth of sympathy for anybody who bought that clearly labelled garbage.

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