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Politics : Ask Michael Burke
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To: Ilaine who wrote (36586)11/17/1998 4:47:00 PM
From: accountclosed  Read Replies (1) of 132070
 
there are securities violations that involve misstating income and stealing money from investors. the law that was involved had to do with letting the public know that you had accumulated a stake in a company and therefore might buy more of that company. the law provides for a seven day period before this had to be revealed anyway.

it is possible to unknowingly accumulate such a stake. securities firms hold stock on behalf of customers all the time. to not know that two organizations actually are the same is a crime of ignorance.

but again, there was no proof of any conspiracy of any sort. and no proof was even offerred that Milken and Drexel conspired. Fred Joseph didn't even know what Milken was doing. He didn't understand it. Although Joseph was chairman, Milken had so much power that he ran the show from Beverly Hills while Joseph was in NYC.

Coby, there was no proof of a crime. No proof of a conspiracy.
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