The Olis Market Loss Hearing

The hearing phase of the re-sentencing of former Dynegy executive Jamie Olis involving the key market loss issue is taking place yesterday and today before U.S. District Judge Sim Lake, and the Chronicle’s Tom Fowler files this report on yesterday’s proceedings.

The hearing is expected to conclude today and Judge Lake — who is usually quite prompt in rendering rulings — is expected to issue his decision on the market loss issue shortly.

By the way, according to the Chronicle article, the prosecutor in the Olis case used the same “deep” line of questioning in attempting to impeach the testimony of Olis expert Joseph Grundfest that the Enron Task Force prosecutors used during the Lay-Skilling trial:

During cross examination, Assistant U.S. Attorney Jimmy Sledge challenged Grundfest’s motive for getting involved in the case, noting a number of news articles that mentioned he is doing this pro bono.

“Does it warm your heart to read nice things about yourself?” Sledge asked.

That a prosecutor stoops to that level of questioning (in front of a sophisticated judge rather than a jury, no less!) in an attempt to impeach the testimony of a noted expert who is donating his time to address a gross injustice is an appalling reminder of the lack of adult supervision that presently plagues the Department of Justice.

2 thoughts on “The Olis Market Loss Hearing

  1. The prosecutors clearly were not speaking to Judge Lake. He sees the facts as facts. Their silly question was, as usual, meant for the media and to sway public sentiment. Frankly, I think this case has created a great deal of public discussion and disgust. Even avid “Fry Lay and Skilling” fans are shocked at poor Jaime Olis’ sad situation. Nothing the prosecutors say or do can change that.

  2. Pingback: Prosecution Continues Bidding in the Olis Sentencing Case | Houston's Clear Thinkers

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