But if Frank was spinning they would've indicted him for such.
Getting paid an exorbitant amount of money is not the same as "lining one's pockets," as you state. One is stealing and the other is being extremely (even excessively) successful. Only an unrepentant leftist would claim that Frank Quattrone, or Bill Gates for that matter, is "lining his pockets" at the expense of the consumer. They're just being damn good businessmen and maximizing their financial return.
Unless you know more personally about this case, or know Frank, I don't hold your opining in very high regard.
My beef is with capitalists who, by acting outside the law, give honest capitalists a bad name.
QUATTRONE'S CONVICTION OVERTURNED
Quattrone's Successful Appeal a Victory against Persecution of Capitalists
March 20, 2006 -- A three judge federal appeals court today unanimously threw out the May 2004 obstruction of justice conviction of financial entrepreneur and innovator Frank Quattrone. This decision is a victory against the persecutors of capitalists and a first step toward making right a serious injustice."
Quattrone's was a premier case of anti-business prosecutors who could find no misdeeds by the targets of their persecution and so, instead, indicted them for covering up a crime that they did not commit. Prosecutors could find no illegal activities such as kickbacks or fraud on the part of Quattrone. Thus they accused him of obstruction based on several emails, sent at a time when he knew of no accusations against his division. Those e-mails merely instructed his staff to make certain that their files were in order and informed them that year’s end was the "time to clean up those files" in accordance with regular company policies.
The appeals court judges found that the original presiding judge, Richard Owen, had given the jury improper instructions. For example, he allowed the jury to convict Quattrone of obstruction "regardless of whether he intended such." A 2003 trial of Quattrone on the same charges resulted in a hung jury. Prosecutors still might retry him.
But the appeals court judgment points to the reckless nature of prosecutors who, in the wake of business scandals, look not to bring to justice real thieves but, rather, make examples of the prominent and successful because they are prominent and successful. It also points to the perversion of the law. Zealous prosecutors see any attempt to resist their twisting innocent business practices into illegal conspiracies--that is, any attempts by businessman to refuse to acquiesce in their own martyrdom--as evidence of obstruction of justice.
Quattrone is a true American hero. His innovative financial techniques allowed him to launch initial public stock offerings for such Silicon Valley successes as Cisco Systems and Netscape as well as Amazon.com. Rather than be rewarded, he became the target of envy.
While the appeals court decision is most welcome, more producers and entrepreneurs in America must stand up for their rights and refuse to accept unearned guilt if they are to save not only themselves but also the system of free markets and rule of law that offer them and all Americans the opportunity to live in peace and prosperity.
Edward Hudgins,
Executive Director,
The Objectivist Center and The Atlas Society
at http://www.objectivistcenter.org/showcontent.aspx?ct=1663&printer=True