A pair of Bear Stearns execs have been arrested. The Feds will charge them and make them face criminal charges as the subprime market falls into a debacle.
Matthew Tannin was arrested when authorities confronted him at his home in New Jersey and Ralph Cioffi was apprehended at his New York City home. This took place on Thursday morning according to FBI reports.
Elsewhere, The U.S. attorney’s office was set to bringother serious charges later Thursday.