Despite huge mistakes and many lies, Bear Stearns executives were acquitted of their subprime fraud charges. Ralph Cioffi and Matthew Tannin were both found not guilty by jurors today after a month long trial. Bother were charged with 3 counts of securities fraud and 3 counts of wire fraud, while Cioffi had an additional charge for insider trading. The actions of these 2 men cost 300 investors $1.6 billion dollars, and the near bankruptcy of the company as a whole.

The question remains, how were they found not guilty by jurors? Based on the evidence presented, the jurors had no choice but to find them not guilty. While the subprime market was failing at a rapid speed both men were lying to investors informing them that the market would prevail and not to worry. When the trial began a number of emails were found between the two men confirming these lies but attorneys said they could have been taken ?out of context?.

With a failing housing market, as a whole there is currently no room for error. American citizens sit around a point fingers at politicians for the current economic crisis, and then when news like this arises are dumfounded at the idea that executives are the men and women driving these companies and our economy into the ground.

With proof at hand these two executives were acquitted, will gladly keep their salaries and continue to perform shady acts of insider trading. Instead of pointing fingers, why isn?t America investigating these events further and holding people accountable? The amount of corruption in corporate America today is ruining our economy one day at a time.

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Author: Sylvia Wayne