Bear Stearns ex-managers on trial

Two former managers at investment bank Bear Stearns are appearing in court in New York facing fraud charges.

Ralph Cioffi and Matthew Tannin, who managed two failed hedge funds that collapsed in June 2007, could be jailed for 20 years if convicted.

They deny allegations that they knew of the funds' problems but did not inform investors, who lost $1.4bn (£709m). Michelle Fleury reports.