Whether or not he had committed any crimes (and, apparently, he had not), Quattrone had plenty about which to be nervous, write Bill Anderson and Candice Jackson. The government was trying to find a way to pin the entire collapse of the stock market upon him. In other words, the feds have a way of declaring someone guilty even when he or she has not done anything criminal. [MORE]
Source link: http://blog.mises.org/1971/the-quattrone-conviction/
The Quattrone Conviction
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Prosecutions and convictions of people like Martha Stewart and Frank Quattrone are what one would have expected from the likes of a Saddam Hussein. The days of commercial freedom in the USA are drawing to a close. Perhaps after China becomes the world’s leading economy, would American lawmakers and prosecutors come to their senses about the damage they are doing to America’s economic future.
Harry Valentine
I’m not waiting – I’m already a month into Mandarin lessons. Once their bubble bursts, I’ll see about some firmer plans beyond that.
Hello. I wouldnt particularly hold my breath on the China front. As Duo quite correctly said, there is a bubble and it will burst.
Unfortunately if the systems which contributed to this bubble are still in place, another bubble will naturally occur.
The Chinese Communist Party has only embraced a more market oriented strategy because it sees such a strategy as its best method of survival. There will come a time when there will be a limit to the reforms, and at that time there will be a choice – Communist party or no.
I agree with almost all of the posting, however the passing defence of Mr Lay of Enron was a mistake.
The Enron Corporation (of which Mr Lay was the head) WAS engaged in efforts to hide its debts and present a false picture to investors – billions of dollars were involved.
Either a full defence of Mr Lay should have been given by the posting (explaining how he did not know about the above), or Mr Lay and Enron should not have been mentioned at all.
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