Bear Stearns Execs Face Criminal Charges in Hedge Fund Collapse

New York, NY —

Matthew Tannin and Ralph Cioffi were indicted for securities fraud in connection with the meltdown of two off-shore hedge funds that were valued at $1.4 billion. The failure of the funds, coming at the same time as a weakening economy, was the first in a chain of events which brought about the demise of Bear Stearns. WNYC's Bob Hennelly and Amy Eddings have the details.