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A Very Good Day


As I said late yesterday (for those of us on the East Coast) Frank had a very good day.
He took the stand and in his clear altar boy tenor did what he does best: he sold. He sold his consideration. He was solicitous of a court reporter. He sold his intelligence. His explanation of investment banking and how it works was the clearest, most concise that I’ve ever heard and the only one that’s made sense in this whole trial. I even learned a thing or too (although given my history with the stock market, that’s not saying much). Quattrone sold his humor. He joked about email coming back to haunt you.
He was smart, calm and cool. In short, he was perfect. The Jesuits at St. Joe’s would have been very pleased. And yes, Quattrone was very clear to make sure the jury knew it was the Jesuits, the Marine Corps. of the Catholic Church, that gave him that high school scholarship. The Jesuits are a breed apart — I know — they’re tough and they’re smart and they despise bullshit when it’s aimed at them. But they are also capable of creating entire cow patty pastures in no more than a single sentence. That may or may not work as Quattrone gets cross-examined.
The jury loved it for the first hour. After lunch they weren’t as enamored — after all by then they’d heard the guy and seen him — but they’re following along.
Court broke yesterday as Quattrone was explaining his emails for the hour in which he got and responded to Richard Char’s “clean up those files” memo. It was the usual flow that anyone who conducts conversations via mail (or IM) is accustomed to seeing: Audrey MacLean wrote and warned him of a computer virus, Ken Hausman wanted to know about a property in Monterey. Quattrone asked Bill Brady about the transfer of an employee to the SF office. He “talked” to bankers about building better relationships with AOL’s Myer Berlow. And he made a very funny joke about Divine Interventures. Did they, Quattrone asked, give ponytail clips as gifts at their closing dinner? No one explained that last one, a classic Quattrone quip, dissing the offering by suggesting — correctly– that it made no money for the company.
Today, the cross. We’ll see how well the Jesuits taught Frank patience, calmness and understanding — not their strong suit. But, hey, maybe Quattrone went to a Franciscan grammar school.

Share  Posted by Chris Nolan at 9:42 AM | Permalink

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