{"id":12544,"date":"2009-10-16T07:18:59","date_gmt":"2009-10-16T11:18:59","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=12544"},"modified":"2009-10-16T07:18:59","modified_gmt":"2009-10-16T11:18:59","slug":"us-versus-cioffi-and-tannin-opening-statements","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2009\/us-versus-cioffi-and-tannin-opening-statements.html","title":{"rendered":"U.S. Versus Cioffi And Tannin: Opening Statements"},"content":{"rendered":"<p>Forbes &#8211; The government cited what it claims are smoking-gun e-mails between the two fund managers. In at least one case, the government says Tannin wrote from his private Gmail account to Cioffi&#8217;s wife&#8217;s Hotmail account, declared the subprime mortgage market was going to &#8220;toast&#8221; and that its managers should &#8220;close the fund.&#8221; Prosecutors alleged these e-mails show that the defendants&#8217; views internally were very negative at the same time they presented an optimistic front to investors.<\/p>\n<p>As opening statements go, the prosecution&#8217;s was short at 45 minutes. By contrast, Cioffi&#8217;s lawyer, Dane Butswinkas, talked for two hours and used multiple charts and exhibits that sought to explain the complexities of Bear Stearns&#8217; management structure, hedge funds and how the collateralized debt obligation market operated.<\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.forbes.com\/2009\/10\/15\/zamansky-bear-stearns-personal-finance-trial-opening.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Forbes &#8211; The government cited what it claims are smoking-gun e-mails between the two fund managers. In at least one case, the government says Tannin wrote from his private Gmail account to Cioffi&#8217;s wife&#8217;s Hotmail account, declared the subprime mortgage [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[720,11708,4504,15965],"class_list":["post-12544","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-fund-managers","tag-hedge-funds","tag-investors","tag-management-structure"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=12544"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12544\/revisions"}],"predecessor-version":[{"id":12545,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/12544\/revisions\/12545"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=12544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=12544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=12544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}