2 Wall Street execs first to face charges for sub-prime chaos

Dandelion Salad

By Kevin G. Hal
McClatchy Newspapers
Thursday, June 19, 2008

WASHINGTON — With their arrest Thursday on a nine-count indictment, two former investment fund managers for banking titan Bear Stearns are now the public face of the nation’s mortgage finance meltdown.

FBI agents made the first high-level arrests of Wall Street executives in connection with the nation’s sub-prime meltdown, parading the handcuffed fund managers in front of cameras as the sun came up over Manhattan.


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