Two big thumbs up to the United States Justice Department for bringing charges against two former Bear Sterns hedge fund managers. Ralph Cioffi and Matthew Tannin have surrendered to the FBI and will face federal charges related to mortgage fraud. They are basically accused of intentionally misleading investors in two funds that collapsed last summer due to poor judgment investing in mortgage-backed securities.

From the initial reports it seems the case is going to boil down to who knew what and when, and also what actions they took. While the lawyers for Ralph Cioffi and Matthew Tannin are basically claiming these two are being hung out to dry and used as scape goats. Of course that is what we would expect a lawyer to say. I wonder how much their lawyers got paid to say that with a straight face?

I looked over the evidence and I find it hard to believe that these two are completely innocent. When you tell other investors that the fund should weather the storm and you are pulling out your own money I just don’t think you can justify their defense. I know they are innocent until proven guilty, I just don’t think it is going to be a hard case to prove, at least not to the general public.

I hope this case serves notice to all those involved in fraud that white collar crime can and will be punished. If you engaged in mortgage fraud, put a lawyer on retainer now.

Today the US Supreme Court struck down the Washington DC hand gun ban and basically verified that the right to keep and bear arms, recognized in the Second Amendment of the United States Constitution, is an individual right of all

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Foreclosure notices are everywhere these days but the growing number of celebrities who are losing their homes to foreclosure puts a whole new spin on the mortgage crisis going on in the United States. Hollywood mortgages are larger dollar figures and

Warning: This Post Is Only In Jest! This top ten list is done entirely in jest because so many people are searching for this information. I respect Ed McMahon's privacy, especially in regards to his medical records and