Part of the Bay Area News Group

Mark Church makes appearance on “Lou Dobbs Tonight”

By Aaron Kinney
Wednesday, December 10th, 2008 at 4:45 pm in Aaron Kinney, Board of Supervisors, Joe Cotchett, Mark Church, San Mateo County.

In case you missed it, county Supervisor Mark Church was on “Lou Dobbs Tonight” last week, trying to protect his eyes from the glare of the CNN host’s blindingly white teeth.

Dobbs featured a segment Dec. 1 with both Church and lawyer Joe Cotchett, whose firm is handling the county’s lawsuit against Lehman Brothers, the collapse of which deprived the county of about $150 million in investments.

The suit asserts that the company fraudulently misled investors into thinking their money was safe, even as the investment firm slid closer to the abyss.

“What makes this case so outrageous is that all the while upper management was siphoning off millions of dollars for their own personal benefit, leaving investors holding the bag,” said Church, according to a CNN transcript.

Cotchett referred to Lehman Brothers’ executives as “modern-day robber barons.”

“One thing is for sure,” Cotchett said of the company’s leaders. “They shouldn’t have a $21 million condo on Park Avenue to return home to every night.”

[You can leave a response, or trackback from your own site.]

One Response to “Mark Church makes appearance on “Lou Dobbs Tonight””

  1. Fed up taxpayer Says:

    Church and Cotchett are creating a smoke screen by going after Lehman’s directors. The question Dobbs should have asked is: Why did a county fund that is supposed to be run like a money-market invest in Lehman in the first place? Money markets should invest in T bills and munis, not risky things like investment banking houses. After the collapse of Bear Stearns in March, the county should have pulled out of Lehman like other wise investors. And now, instead of accepting blame and learning a lesson, they’re trying to shift attention elsewhere. The cities and school districts that invested in this fund ought to sue the county and every member of the Board of Supervisors as individuals. After all, that’s what the county is doing in the Lehman case. Fair is fair.

Leave a Reply