[lmg643]

this story has been floating around for a week or so now.

i remember when the qwest insider trading scandal first broke back in 2001 - it fit with the times - bernie ebbers, worldcom etc - corrupt telecom executives.

it is quite disturbing to think that a CEO might have been targeted in this way for refusal to cooperate with the NSA.

so much so, that i have a hard time believing that this is actually the case. lots of people in jail have elaborate theories for why they are innocent.

the market topped in 2000. spring of 2001 the market was already in serious trouble. nacchio would undoubtedly have known about earnings shortfalls that would occur as part of the implosion of the telecom bubble. the company had a number of accounting irregularities and was engaged in phony broadband deals with enron. qwest would not have escaped the market troubles with an NSA deal.

let's keep some perspective here people.