Jim Chanos: The Greatest Defense Attorney And The Harshest Prosecutor Of Any Company Is Its Stock Price!

In his recent interview with RiskReversal Media, Jim Chanos explains why the greatest defense attorney and the harshest prosecutor of any company is its stock price! Here’s an excerpt from the interview:

That’s one of the things I teach in my history of financial fraud case is that again and I’ve said it before, the greatest defense attorney and the harshest prosecutor of any company is its stock price!

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If everything is going up, everything is fine, we’re not going to bother you, we don’t want to hurt investors, we don’t want to be seen as squashing, but God forbid things go down it’s going to be a hunt for bad guys and boy 02/03 was really that after the dot-com crash.

It’s not a coincidence that all those frauds were prosecuted the way they were like Enron and Worldcom and Tyco and others, if the stocks had kept going up but the frauds were exposed I don’t know those guys would have gone to jail.

You can listen to the entire discussion here: