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Note from Larry: July 18, 2010
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When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William Black
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Editor's Note: Here is a link to a paper written by Martin Armstrong. As a bit of disclosure, here is what Wikipedia has opens with about Mr. Armstrong . . . Martin Armstrong is the former chairman of Princeton Economics International Ltd. Indicted in 1999 on bogus charges of bilking Japanese investors, he spent seven years jailed for contempt of court before finally pleading guilty in 2007, and he is now serving a five-year sentence for conspiracy to commit fraud.
Here is a link to his paper -
Click Here
3 COMMENTS:
Thanks for this post! Trying to find out the background on Martin Armstrong lead me to this article about his trial:
http://www.starnewsonline.com/apps/pbcs.dll/article?AID=/20070216/ZNYT01/702160432/1002/business#
Apparently, he has been been held in prison withou a trial for 7 years (on charges of contempt of court). This is incredible!
No matter if he actually committed the alleged fraud (which we dont know, since there was never a public trial), beeing held in prison for 7 years without a trial ought to impossible in a country under the rule of law.
Most interestingly as to the topic of this blog here is this: "Alan M. Cohen, then a lawyer at O’Melveny & Myers and now executive vice president and global head of compliance at Goldman Sachs, is the court-appointed receiver." That means the person (i.e. the receiver) who accused Mr.Armstrong of withholding stolen assets and thus gave the reason to hold Armstrong in prison for contempt of court was a Goldman Alumni too. Just incredible.
Mike,
if you know more about the case of Martin Armstrong, could you maybe do a post about this?
regards,
Matthias
Please go here:
http://economicedge.blogspot.com/2009/06/martin-armstrong-case-update.html
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