Reagan Aide Stockman Targeted in Fraud Probe

[madinmaryland]

Here we go again with rampant Republiclan corruption:

http://www.washingtonpost.com/wp-dyn/content/article/2006/09/07/AR2006090701723.html

To old hands in Washington, David A. Stockman will always be the long-haired numbers cruncher who led the cheers for Reaganomics but nearly lost his job for privately denigrating the administration's budget at the same time he sold it to the public.

Stockman's trip "to the woodshed" with President Ronald Reagan and his denouncement of the "rosy scenario" of White House fiscal policy helped coin political phrases that linger in the capital's lexicon more than two decades after he left government.

Now the man who put one over on Congress could face far more severe consequences for possibly misleading Wall Street.

Lawyers at the Securities and Exchange Commission recently notified Stockman that he could face civil charges related to upbeat statements he made to investors two months before an auto parts company he ran sought bankruptcy protection last year, according to sources familiar with the issues who spoke on condition of anonymity because the investigation continues.

Securities regulators are examining the role Stockman and other former executives played in alleged financial irregularities at Collins & Aikman Corp., with an eye on whether Stockman may have lied to investors by telling them the company's finances were being "managed quite effectively" when he was aware of mounting problems. Federal prosecutors have also subpoenaed financial records from the company.

..snip

[hippiechick]

1. He was the coke fiend, wasn't he?

:shrug:

[madinmaryland]

2. I hadn't heard about that.

Stockman was Reagans budget directory who basically told the media that they were pulling numbers out their a** to make Reagan's tax cuts look like magic. Bush I called it "voo-doo economics". He lasted two or three years, and later wrote a book about his years with Reagan.

:shrug:

[underpants]

4. Stockman is a great example of the Republican suit

They perfected it later by making everyone get a good tight haircut but Stockman had the suit thing down. He simply put on a suit and went in front of Congress and never wavered never hesitated he answered with a dizzying (to Congressmen) grasp on the figures and if he didn't have the right numbers he just made them up...but never blinked.

IT works. The careers of George Allen and Rick Santorum can be tied directly to the great forerunner who was Stockman.

Stockman also is a great example of how lazy (*cough*)the press is. He should be a regular on all the talk shows from the minute he got outside of the White House and started telling everyone in earshot that it is all a lie it makes no sense....nope can't talk to him that would make you seem liberal or sumptin'

[hippiechick]

7. Right ... but I seem to remember

(ok so I was a teenybopper during the Reagan Administration ... ) news reports of him being arrested for coke possession and/or a few latenight barbs at his ... habit. But that was waaaaaaay before the net and upon Googling, I can't find anything to confirm my memory.

Not that the history books would have been cleaned of any scurrilous incidents involving St. Ronnie or his Administration ...


:shrug: Maybe I AM thinking of a different cabinet member ?? :shrug:

[Benhurst]

3. I wonder if he really has done something dishonest this time or

or is just guilty once again of telling the truth about the powers that be.

[Wilber_Stool]

5. How times have changed.

If Raygun tried to take Stockman to the wood shed today, little Davey would be in a foster home and Ronnie would be in jail for child abuse.

[Jack Rabbit]

6. Wow, that's a blast from the past.

I feel bad about this. I liked Stockman. It seemed that if a reporter bought him a drink, Stockman would tell him what he really thought, like when he admitted that "supply side economics" was just a fancy term for the trickle-down theory.