March 13, 2008
Skilling & The Fastow Notes
Kristen Hays of the Houston Chronicle's article, Skilling Seeks to Use Fastow Notes As Part of Appeal and Tom Kirkendall's Houston ClearThinkers (here) discuss the recent happenings in the Skilling appeal. If it is shown that the government failed to disclose exculpatory material to the defense in the Skilling case, it could prove enormously detrimental to the government's ability to have the conviction affirmed on appeal. Because Andrew Fastow played a crucial role in the government's case, items within the government's possession that they may have failed to provide to defense counsel may send this case in a whole new direction. The question remains as to whether the Fastow Notes will be the card that causes the house of cards (this time the government prosecution of Enron cases) to start falling. (see here and here)
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I think that Skilling is really pulling straws with trying to overturn his conviction.
Posted by: SP Biloxi | Mar 12, 2008 10:33:55 PM
What’s like straw about the failure to turn over exculpatory evidence? And with reference to your earlier comment about mark to market accounting, it would seem significant that that was not the particular legal practice that the DOJ chose to criminalize in the Skilling case. And, in any event, what’s wrong with mark to market accounting, considered a conservative approach for a company to take when valuing its assets? Indeed, tens of thousands of this country’s most productive and important assets are marked to market every working day; that’s what happens on this country’s – and in fact on every country’s – stock markets. Is there a lot of fraud going out there in your mind?
Posted by: Straw-Man | Mar 13, 2008 9:53:41 AM