Former Reagan Aide (David) Stockman Facing Possible Indictment

[sabra]

http://blogs.abcnews.com/theblotter/2006/12/former_reagan_a.html

Former Reagan Aide Stockman Facing Possible Indictment

A federal grand jury in New York may be asked as soon as next month to indict a top aide in the Reagan White House, David Stockman, on fraud charges, federal officials tell ABC News.

The officials said the investigation of Stockman, a former congressman who ran the Office of Management and Budget in the Reagan administration, centers on his role as CEO of a now bankrupt Michigan auto parts company, the Collins and Aikman Corporation.

The investigation has focused on whether Stockman and other corporate officers misled investors about the company's financial health.

Stockman's lawyer said his client had done nothing wrong and that reports of a pending indictment are premature. "We have not been told he is a target and are still hopeful the matter will be resolved without any further action by the U.S. Attorney's Office," said Elkan Abramowitz. He said Stockman has cooperated fully in the investigation, which was begun by the Securities Exchange Commission last summer.

[Buck Laser]

1. Didn't Stockman leave Washington under some kind of shadow?

I can't recall exactly, but I'm thinking there was some kind of irregularity with his work as director of OMB. Anyone remember?

[ForPeace]

5. I remember - he resigned

He was the architect of Reaganomics. He was all for tax cuts with offsetting spending cuts. The tax cuts were implemented but Reagan wouldn't do the spending cuts, so he resigned - knowing it was going to cause a horrific deficit. He wrote a couple of books about it.

[Eugene]

6. No. He admitted in an interview that Reagnomics was a trojan horse

and supposedly got "taken to the woodshed" for it.

[Frank Cannon]

2. He should be indicted simply for introducting the scourge...

that is Reaganomics to our country. Even he admits that it was a sham.

I'd say that qualifies for a fraud charge, at least.

[indepat]

11. Stockman's OBM budget process was a huge fraud on this Republic and its people: ironic that David

will possibly be indicted as the full deification of the Gipper is nearing full fruition.

[Cooley Hurd]

3. Like his ideology, Reaganomics, he goes down a fraud...

How apropos!:evilgrin:

[flamingyouth]

4. Oh goody.

Mr. "Ketchup is a vegetable" finally gets his comeuppance.

[calimary]

7. Aw, criminy - he didn't take his girlfriend "Rosie Scenario" and her pet

"Magic Asterisk" to Michigan with him, did he? One would hope he would have learned from his narrow escape from the House of (Cards of) Reagan. He was, after all, a pretty smart guy.

[Hand]

8. Proof once again that karma can be a bitch.

It may ripen slowly, but it does ripen fully.

[Jeff In Milwaukee]

9. I cut Stockman some slack...

Reaganomics was going to happen no matter what. And when Stockman understood the true agenda of those running the country, he pulled back the curtain and resigned. His book, "The Triumph of Politics" is a pretty damning story of the Reagan years.

He's even the source of one of my favorite budget quotes (And I'm paraphrasing here): There's nothing inherently wrong with a Welfare State as long as we're all willing to pay for it.

[kwassa]

10. "deficits as far as the eye can see"

Stockman's opinion of his boss, Reagans, economic policy.

[beth9999]

12. Feh...

... he's a Repug. Throw him in jail.