Memo to US bishops, II
By Diogenes (articles ) | May 04, 2004
In other headline news, today, a once-powerful Wall Street figure faces up to 2 years in jail after his conviction on charges of covering up criminal activities by his subordinates.
This is a big story, because: 1) Frank Quattrone was convicted because he authorized an email message asking employees to purge their files of potentially incriminating evidence; 2) In his heyday Quattrone was a really big figure on Wall Street; you could compare his status with-- oh, say, that of Cardinal Mahony in the US hierarchy.
An appeal from our founder, Dr. Jeffrey Mirus:
Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach five million Truth-seeking readers worldwide this year. Thank you!
Progress toward our April expenses ($17,660 to go):
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!
Posted by: extremeCatholic -
May. 04, 2004 12:02 PM ET USA
(full disclosure, I work in the same industry as Quattrone) A critical difference between FQ and the case of the bishops is that CSFB cut FQ loose after an internal investigation. Based upon what was disclosed and not denied, he was already condemned ethically by Wall Street. The only question was whether it was a criminal offense and now we that answer. By the way, if Martha Steward only had held on to her Imclone stock, it would today be a profitable holding. The stock rebounded.