Friday, October 12, 2007
The Race to the Bottom Blog, which provides excellent coverage of the prosecution of former Qwest CEO Joseph Nacchio, will take the same approach to the upcoming trial of former Congressman and OMB Director David Stockman on securities fraud charges. According to Professor J. Robert Brown from the University of Denver Sturm College of Law, who runs the Blog:
The Race to the Bottom has as part of its mission the analysis and examination of cases that raise important issues of corporate governance. This Blog will follow the case of David Stockman, the former Congressman and head of the Office of Management and Budget under President Reagan. During the era of trickle down and the Laffer curve, Stockman helped push through the Reagan budgets. His most famous moment was probably an unguarded comment made in an interview published in The Atlantic when he referred to the Reagan tax cuts as a "trojan horse."
He left politics, went to Wall Street, and helped found the Blackstone Group, leaving the public eye but presumably becoming very rich in the process. He's back, having been indicted for his role in overseeing Collins & Aikman, a auto parts manufacturer. In defending himself from charges he manipulated financial information, one article reported that Stockman will rely on the "I am a moron defense".
Students will obtain all filings in this case and post on them. Jeff Hartje, a faculty member at the University of Denver Sturm College of Law, and an expert on litigation and evidence will discuss the filings with students and supervise the posts. Most of the posts will appear in a separate tab on this page labeled "Stockman". When developments occur of high significance, the posts will be on the main page.
Enjoy the coverage.