BoA Still Not Over Being Taken On Subprime

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The Journalreports 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, "undefinedelieve 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.

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