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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (100934)	1/20/2008 12:37:10 PM
From: Lizzie Tudor	Respond to of 306849

he is absolutely the last guy you would want on a panel, knows nothing about securities, but he has a j.d. so he qualifies. thats exactly what you have in the DOJ going after white collar crime. Its obvious these guys have never worked in a corporation because they prosecute a huge number of slippery slope arguments. Joseph Nacchio was prosecuted for insider trading, because he had expiring options and put a sell in with his broker and a floor at 38 for all expiring options. At the same time he made forward looking statements saying the Qwest business was fine. As it turns out it was not fine, and a lot of Nacchio's options expired worthless as the bottom fell out of the stock - he was able to sell a bunch before the crash though. OK so now he is convicted of insider trading against forward looking statements. Anybody with a business background would never prosecute anybody on forward looking statements. The result of this is that companies like GOOG don't give guidance anymore- no guidance, no warnings etc. Are we better off? The same thing happened with backdating. They charged this guy criminally early on before they realized they were prosecuting a business practice endorsed by all accounting firms. Had they had real jobs they would have known this. Whatever their backgrounds are it is not business.