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Poor and Stupid

How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

Ruining One Reputation To Rehabilitate Another

Posted on 02/22/2007 12:00 PM | Link | Post Comment
I have just sent this letter to the Wall Street Journal:
In "Scooter Libby and Reputation," columnist Daniel Henninger properly holds Rudolph Giuliani to account for his overzealous prosecution of Wall Street figures in the 1980s, and the irreparable damage done to the reputations of these innocent businessmen. Ironically, in the process of discussing the case of Salim "Sandy" Lewis, one of Mr. Giuliani's victims, Henninger inadvertently underscores his own point when says that Mr. Lewis' "accuser was Boyd Jeffries, the criminal acolyte of famed financial criminal Ivan Boesky." I knew Mr. Jefferies intimately at that time, and I know that he was no "criminal acolyte." He was coerced by Mr. Giuliani by the threat of criminal prosecution for minor technical violations of securities regulations that had never been treated as criminal matters before. He felt he had no choice but to plead guilty to various minor technical infractions, and to help Mr. Giuliani build his case against others, such as Mr. Lewis, who were themselves guilty of similar minor technical infractions. Mr. Jefferies could have fought Mr. Giuliani as others did, but as Mr. Henninger points out, his reputation would have been destroyed, win or lose. It saddens me that Mr. Henninger, in his attempt to rehabilitate the destroyed reputations of some innocent businessmen has further sullied the reputation of Mr. Jefferies.
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