Cohan thinks that the prosecution set the bar for conviction too high in their opening argument and relied too heavily on incomplete e-mail snippets in makings its case. The statement dramatically presented the two men as compulsive and shameless liars who made not a single ethical decision, and those damning blurbs were seen differently when placed in the context of emails that instead seem to document a conscientious decision-making process.
Worse, the prosecution left out evidence that would have been more compelling: for instance a talking points memo that Cohan describes in the article. The acquittal will, as Cohan puts it, force the prosecutors currently investigating the Lehman indictment to "tread lightly." For that reason, "Tuesday’s verdict may be the best news in more than a year for Richard Fuld, the former Lehman chief executive."
In other news— hey wait a minute, what’s tha— ::sniff:: — does anyone else smell fish?
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