KEY E-MAILS FROM THE FCIC FINANCIAL CRISIS INVESTIGATION

March 30, 2007 - E-mail from Bear Stearns Senior Managing Director Matthew Tannin to Bear Stearns credit analys Steven Van Solkema.

Matthew Tannin

Matthew Tannin is a former Bear Stearns hedge-fund manager. On June 19, 2008 he was arrested by the FBI as part of its "Operation Malicious Mortgage." His boss, Ralph Cioffi, was also arrested, making them the first executives to face criminal charges related to the subprime mortgage debacle. On November 10, 2009, Tannin and Cioffi were found not guilty of securities fraud by a jury in U.S. District Court in Brooklyn, New York.


Steven Van Solkema

Steven Van Solkema, was a former Bear Stearns credit analyst who worked for Ralph Cioffi and Matthew Tannin.

EMAIL TEXT

From: Tannin, Matthew (Exchange)
Sent: Friday, March 30, 2007 11:19 AM
To: Van Solkema, Steven (Exchange)
Subject: Thanks

I hope I don't disturb with you with all of my ranting and raving. Believe it or not - I've been able to convince people to add more money - which I am doing as well - No one has redeemed - as far as I've seen. Please please please tell me if you think I'm not saying anything clearly - or if you think there are things to say that I'm not saying. I apologize for the fact that you have to hear all of this - if it takes away from your concentration. But what would be VERY helpful is if you could continually feed me the "market intelligence" you see and hear. Ardavan just blasts out mostly b******t so it is really not that helpful to me. If you could stream me emails with thoughts and observations and factoids I would be most grateful.

Matthew Tannin
Senior Managing Director
Bear Stearns Asset Management
mtannin@bear.com
212-272-3113