Interesting news today that my favorite ex-client, former Qwest CEO Joe Nacchio is claiming as part of his defense that a curtain of secrecy over classified government information -- more commonly used in spy or terrorist trials -- may cloak part of his insider trading trial. A federal judge will hear arguments today. Joe’s attorneys have said he had access to classified information about national security work as part of Qwest's business dealings that may have given the former chief executive hope for the company's future. And you may remember, he was the only CEO of a major phone company that refused to hand over customer calling information to the Bush administration. Good for him. He’s charged with 42 counts of insider trading for allegedly selling $101 million in stock in 2001 based on inside knowledge. Funny how company Chairman Phil Anschutz took out $1.5 BILLION over the same period, but does not face any indictments. Could the fact that he’s a major contributor to the GOP have anything to do with it?
If we told you about it... Then we'd have to kill you!
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