Bear Stearns Juror: I'd Still Invest With Cioffi And Tannin

cioffi tannin bear hedge funds

Wow, this really tells you how terrible the prosecution did in the Bear Stearns hedge fund trial, which ended yesterday with acquittals.

Bloomberg: Aram Hong, a juror from Woodside, Queens, said the exchanges between Cioffi and Tannin shown to the jury proved to her that the two men were working “24-7” to save the funds in the months before they collapsed. She noted a defence exhibit that showed the fund managers were working at 4 a.m.

“If this was really a fraud case, they wouldn’t have worked that hard,” said Hong, 27, a food and beverage director at the Iroquois Hotel in midtown Manhattan, adding that she would invest with the two men if she had the money.

The funny thing is, Ms. Hong is merely demonstrating a standard mentality in the hedge fund world: past blowups are not a problem (see: the nine lives of John Meriwether). What matters is looking sophisticated.

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