Ralf Cioffi and Matthew Tannin, now infamously former hedge fund managers at Bear Stearns are in no danger of being asked to appear on Jeopardy! any time soon.  These men haven’t exactly fallen prey to a Danny Ocean caliber plan to catch them in the act of looting their clients out of billions of dollars.  [...]

Update! Despite earlier reports, JP Morgan has raised the bid for Bear Stearns from $2.00 a share to $10.00 after major negative feedback from stockholders.  This puts JP Morgan’s ante up to roughly $1 billion.  The Fed will lend JP Morgan another $29 billion to seal the deal.  What’s in it for the Fed you [...]