S. HRG. 99-1026, PT. 3

WHITE COLLAR CRIME
(E.F. Hutton)

HEARINGS

BEFORE THE

COMMITTEE ON THE JUDICIARY
UNITED STATES SENATE

NINETY-NINTH CONGRESS

SECOND SESSION

ON

OVERSIGHT OF THE PROBLEM OF WHITE COLLAR CRIME

APRIL 17 AND MAY 8, 1986

1

Serial No. J-99-89

Third and Final Part

Printed for the use of the Committee on the Judiciary

65-483 O

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1987

For sale by the Superintendent of Documents, Congressional Sales Off
U.S. Government Printing Office, Washington, DC 20402

Trott, Stephen S., Assistant Attorney General, Criminal Division, U.S. De-

partment of Justice; Albert Murray, Assistant U.S. Attorney, U.S. Depart-

ment of Justice, accompanied by Robert W. Ogren, Fraud Section Chief and

Peter B. Clark, Criminal Division, Fraud Section

Fomon, Robert, chairman of the board, E.F. Hutton, New York, NY; Robert

Ritterreiser, president, E.F. Hutton, New York, NY, accompanied by

Warren Christopher, counsel, O'Melveny & Myers.....

Ball, George, chief executive officer, Prudential-Bache Securities, New York,

NY, accompanied by Lloyd N. Cutler, counsel, Wilmer, Cutler & Pickering...

THURSDAY, MAY 8, 1986

McCollum, Hon. Bill, Member of Congress, State of Florida

Bell, Hon. Griffin, King & Spalding, Atlanta, GA....

6

125

169

182

225

ALPHABETICAL LISTING AND MATERIALS SUBMITTED

Ball, George:

Testimony

169

Prepared statement before the U.S. House of Representatives, Committee

on the Judiciary, Subcommittee on Crime, October 31, 1985.

Letter from Senator Biden, April 1, 1986..

170

177

Bell, Griffin:

Testimony.

225

Prepared statement

Letter from Robert Fomon, chairman, the E.F. Hutton Group Inc.,

May 28, 1985..

231

234

Letter to Representative William J. Hughes, September 6, 1985

Responses to questions from Senator Thurmond.

246

247

Response to the statement of Representative William J. Hughes......

Response to Representative William J. Hughes' staff highlights of the

Bell report..

Response to Representative William J. Hughes' staff analysis of "The

Hutton Report"

250

260

269

John M. Pearce, plaintiff, v. the E.F. Hutton Group Inc., defendent........

Biden, Senator Joseph R., Jr.:

291

Opening statements

3, 181, 217

Memo from Perry H. Bacon to Steve Braylove, April 23, 1982.

Letter to Robert Fomon, April 1, 1986.

Christopher, Warren: Testimony

Clark, Peter B.: Testimony.

Fomon, Robert:

Testimony.