Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Grasso took Fifth (Amendment) over specialists (more than 150 times)

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-15-06 09:57 AM
Original message
Grasso took Fifth (Amendment) over specialists (more than 150 times)
http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=mktw&guid=%7BF600814E%2D0B90%2D42F7%2DBBCD%2D808C3483B0BE%7D&symbol=

NEW YORK (MarketWatch) -- Former New York Stock Exchange Chairman Dick Grasso invoked his Fifth Amendment right not to answer questions more than 150 times last summer when he was questioned about trading abuses on the exchange floor, according to a transcript of his testimony.

Grasso was questioned by the Securities and Exchange Commission in 2005 over specialist trading abuses. Specifically, the former chairman was asked if he prodded traders to support share prices in companies including American International Group Inc. (AIG : 59.46, +0.19, +0.3% ) .

Throughout the questioning, Grasso repeatedly invoked the Fifth Amendment in response to direct questions about his role in floor trading.

<snip>

"I assert my Fifth Amendment privilege," Grasso said.

<snip>

New York State Attorney General Eliot Spitzer also questioned Grasso this year over his role in trading while the attorney general was investigating whether Grasso's $190 million payout was legitimate. That case is expected to go to trial later this year or in 2007.

...more...
Printer Friendly | Permalink |  | Top
gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-15-06 10:09 AM
Response to Original message
1. Dick Grasso would be in deep trouble
If he wasn't obscenely wealthy. I sure hope the day doesn't come when we grow too impatient with the manipulation of our society by these greedheads and decide to take shortcuts to justice. But if that day comes, Mr. Grasso had better hope that his paid personal security goons stay bought and stay on the job.
Printer Friendly | Permalink |  | Top
 
GodlessBiker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-15-06 11:36 AM
Response to Original message
2. In a civil case, asserting the Fifth is allowed, but...
the judge is likely to tell jurors that they can infer that anything the witness would have said had he not invoked would be adverse to his position at trial.
Printer Friendly | Permalink |  | Top
 
DoYouEverWonder Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-15-06 11:50 AM
Response to Original message
3. Tell me again
they sent Martha Stewart to jail for what?

Printer Friendly | Permalink |  | Top
 
NorthernSun Donating Member (324 posts) Send PM | Profile | Ignore Thu Jun-15-06 11:54 AM
Response to Original message
4. Fair and balanced justice
You mean to say the 911 'hero of Wall Street' is a crook?
Printer Friendly | Permalink |  | Top
 
Vidar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-15-06 11:59 AM
Response to Original message
5. Multiply that by five & you get the number of thief-in-chief's signing
statements.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue May 07th 2024, 01:01 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC