Feds drop case against fmr. Reagan aide

Posted: Friday, January 09, 2009 12:36 PM by Domenico Montanaro
Filed Under: Pete Williams

From NBC's Pete Williams
Federal prosecutors have decided to drop their case against David Stockman, the former Reagan budget aide.

Stockman and three others were accused of securities fraud last year in connection with the bankruptcy of one of North America's biggest auto parts companies. Stockman was the former chairman and chief executive officer of Michigan-based Collins & Aikman Corp. They were all accused of making false statments to auditors, among other allegations.

But today, federal prosecutors say "after a renewed assessment of the evidence, including evidence and information obtained after the filing of the indictment," the government has decided not to pursue the case.

EMAIL THIS

Comments

yes, I guess they knew their case would not be complete in time for Bush to issue a parden.

Union Baby, Tennessee (Sent Friday, January 09, 2009 12:44 PM)

some folks are lucky. if you can't prove it you got to let 'em go. wall street folks are slick as grease.

ace (Sent Friday, January 09, 2009 12:52 PM)

Just don't pardon Bush and de facto President, Cheney; if they're convicted. Mostly everyone in the world thinks or knows they're criminals!

Beverly in Chicago (Sent Friday, January 09, 2009 12:53 PM)

Heard we might get a Caroline Kennedy spoof on SNL soon. You can imagine many angles with the drug use, the 205 "you know's" recently and the sudden desire to be in the public eye. Should be comparable to Fey's Palin or maybe even better. Stay tuned.

Sandy Moore, Indy (Sent Friday, January 09, 2009 12:54 PM)

Seeing the Democrats have won in 2008, there is no longer a need for yet another phony case to hammer the Republicans on.

T. Foley, Texas (Sent Friday, January 09, 2009 12:56 PM)

Michigan, Detroit, auto parts, seeing a common theme here. Was he a Dem?

Anthony G., Columbus, OH (Sent Friday, January 09, 2009 12:58 PM)

Chalk another one up for the Gipper.

eagle1776 (Sent Friday, January 09, 2009 1:02 PM)

I wonder what that cost him?
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John, Chicago - that was funny (First Read post today). I especially like #3.

Clara Kansas City, MO (Sent Friday, January 09, 2009 1:49 PM)

Makes you wonder why Stockman didn't just say what his boss always said about Iran Contra -- "I don't remember."

(Now, prove that's false.)

Anna Molly (Sent Friday, January 09, 2009 1:51 PM)

So where did my money go?????????

John H. (Sent Friday, January 09, 2009 1:52 PM)

how can you not be skeptical and cynical after the Bush has politicized and compromised the justice department

nuanced (Sent Friday, January 09, 2009 2:29 PM)

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