In Other News

While everyone has their knickers in a twist regarding the Plame affair (which I think would be a great title for a book), the administration is busy prosecuting some of the corporate criminals who operated carte blanche uder the previous administration’s ‘miracle economy’:

– Three trials involving top executives accused of fraud or obstructing justice got under way on Monday in cases that could set the tone for possible prosecution in the spate of financial scandals that have swept Wall Street and corporate America in recent years.

Jury selection began in Manhattan Supreme Court in the trial of former Tyco International Ltd. (TYC.N) executives Dennis Kozlowski and Mark Swartz, who stand accused of looting the conglomerate of $600 million to finance their lavish lifestyles.

Just blocks away, jury selection began in the trial of former Credit Suisse First Boston investment banker Frank Quattrone, who is accused of interfering with probes of his high-flying stock-offering business.

And in federal court in Harrisburg, Pennsylvania, opening arguments in the trial of Franklin Brown, the former chief counsel of Rite Aid Corp. (RAD.N), began. The trial involves one of the largest corporate fraud scandals in U.S. history.

The two Manhattan trials could set the tone for cases of corporate malfeasance such as Enron Corp. (ENRNQ.PK) and Adelphia Communications (ADELQ.PK), which are expected to follow, though prosecution is far from assured in either trial.

Long periods of time in tiny jail cells. I hope.

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1 reply
  1. 1
    Henry Shieh says:

    That’s right, nothing to see here.

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