More From Eric Dixon at

Support Independent Investigations With Bitcoin:
Send Bitcoin Here: 171GMeYRD7CaY6tkXs8dSTjLbAtFazxhVL

Top 50 Twitter Rank of Worldwide Startup Advisors For Much of 2014
. Go to my professional site for solutions to your legal, business and strategic problems. The only lawyer who is a co-inventor of multiple, allowed-for-grant patents on blockchain technology!!! Blockchain and Digital Currency Protocol Development --
Top Strategic Judgment -- When You Need A Fixer -- Explore Information Protection and Cryptographic Security -- MUST-WIN: JUST DON'T LOSE -- SURVIVE!: Under Investigation? Being Sued? Handling Extreme Stress -- Corporate Issues -- Startup Issues -- Investor Issues -- Contracts To Meet Your Needs -- Opposition Research -- Intellectual Property, Media and Reputation Issues -- Independent, top-notch legal, strategic and personal advice -- Extensive ghostwriting, speechwriting, book writing, issue research, press and crisis management services. Listed by American Bar Association's Law Bloggers (Blawgers). Contact European Union audiences: This site uses a third party site administrator which may use cookies but this site is intended for AMERICAN clients and prospective clients only!

Tuesday, November 10, 2009

Did Misguided Career Ambition Drive The Bear Stearns Case?

[This is an update of an earlier post about the two Bear Stearns fund managers who managed hedge funds invested heavily in subprime mortgage backed securities.] 

The prosecutors in the Eastern District of New York presented for the jury selected segments of e-mails which, when read in their entirety, raised doubt as to the government's case.   The jury took approximately nine hours to reach its verdict -- meaning this was a quick turnaround.   Post-trial comments from jurors (see this Bloomberg News report) indicate they understood the government made selective use of e-mails and did not portray a true picture of what happened.

This verdict may indicate that some government prosecutors did not "vet" this case properly, meaning that someone failed to properly assess the evidence and determine whether the defendants truly had the required "criminal intent."   This was a landmark prosecution, being the first to probe the subprime mortgage meltdown.  Perhaps someone had visions in his or her heads of the value of a guilty verdict in boosting one's career and paving an express lane to a lucrative law firm partnership offer.   Did career ambition play a role in this case having been brought in the first place? 

The role of prosecutors, whether they be state, local or federal, is to do "justice."  This roughly means a pursuit of the truth.   The prime directive is not to "win the case" and certainly not to do so "at any cost."   Hopefully this case did not involve an approach of "the ends justify the means."   The gamesmanship of using selected snippets of e-mails and other evidence, when the overall context seems "clear" (as it did to the jury) suggests that the pursuit

No comments:

Post a Comment