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His legal obligation is to tell the relevant information about the acquisition to the shareholders. He didn't do that and has now effectively confessed he did not do that. The excuses don't matter.
Since he failed do that, he must be indicted and prosecuted to the full extent of the law, and we can only hope he will rot in prison for the rest of his natural life, and not just for this crime.
If Bernanke and Paulson gave him any encouragement to commit this crime, then they must be indicted and prosecuted (on top of their very, very long additional rap sheet). If they actually pressured or blackmailed him, even worse.
May Cuomo have the balls. He's the only agent of law enforcement who seems to even be stirring on this front.
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