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Not exactly sure what you're driving at. If there's enough evidence that these guys knew despite their protestations to the contrary, it doesn't matter what the
by scott00 9y ago
Not exactly sure what you're driving at. If there's enough evidence that these guys knew despite their protestations to the contrary, it doesn't matter what they say. It's not like they need to confess to get convicted. And if there's not enough evidence, the SEC can't make companies fire its executives or revoke golden parachutes.
- int_19h 9y agoThe point is that if they claim that they didn't know better, and that is to be taken at face value, then they're plainly not competent to hold their jobs. So, if they testify that they knew - they're liable. If they testify that they didn't know, and SEC can prove otherwise - same as above + perjury. If they testify that they didn't know, and SEC cannot prove otherwise, then at least it is treated as them confirming their incompetence. So if they get, say, a bonus later, or a "golden parachute" for outstanding service on retirement, that is treated as evidence contradicting their claims.