Matthew Tannin and Ralph Cioffi
In spring 2007, the two Bear Stearns fund managers shared concerns over email about the subprime market in which they had invested—but told fund investors something else. The failure of their two funds in July 2007 sparked the start of the credit crunch later in the year.
Yahoo Trio
Emails released by a Delaware court revealed Yahoo execs plotting to make things “increasingly more expensive” for potential buyer Microsoft, including a walkout of all 14,000 employees.
Here, other executives tripped up by a loose trigger-mouse:
Angelo Mozilo
In May, Countrywide customer Dan Bailey received an answer from the Countrywide C.E.O. just minutes after sending an email asking for help out of his high-premium loan, when Mozilo accidentally hit “Reply” instead of “Forward.” Bailey’s response: “Interesting to find that you think my letter is disgusting. I will send this on.”
Frank Quattrone
Credit Suisse First Boston investment banker Quattrone was charged with obstruction of justice after a probe by federal investigators into whether tech I.P.O.’s had been rigged. Charges were eventually dropped.
Henry Blodget
Merrill Lynch’s former internet analyst found trouble by purposely corresponding with customers, suggesting in 2002 that clients disregard his then-employer’s stock recommendations.
Jack Grubman
The Citigroup analyst essentially bragged to a friend that he would up the ratings on certain stocks to inflate his “professional importance” (and ego?).
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