Word: woode
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Harvard honors itself by considering James O. Freedman as its president, but our fondest hope is that he will choose to remain at Dartmouth College. William W. Cook Gene M. Lyons John A. Rassias Charles T. Wood...
...much time will Milken, 44, ultimately spend on ice? Wood said she will consider reducing the sentence if Milken cooperates with other government probes of Wall Street before he enters prison next March. Once he begins his term, Milken can be eligible for parole at any time. But experts said he would probably serve at least three years of the 10-year sentence because of the importance of the case as a deterrent to white-collar crime. Once Milken leaves the slammer, he will have to perform 5,400 hours of community service over three years...
...Wood drove home that point in rendering her decision. While she acknowledged that sentencing Milken to community service would permit him "to work productively with others," she asserted that "a prison term is required for the purposes of general deterrence." Moreover, she added, Milken had committed "serious crimes warranting serious punishment and the discomfort and opprobrium of being removed from society...
...into Wall Street's most lucrative money machine. Instead of squandering the fortune on yachts and jets, Milken formed investment partnerships that earned him additional millions. But riches will not shield Milken from the loss of his freedom. In an 11-page plea for leniency that he wrote to Wood last month, Milken acknowledged, "All people, I am sure, have a fear of incarceration and separation. I am not unique, and I, too, have those fears...
...precisely such fears that Judge Wood intends to reinforce with her stiff sentencing of Milken, say experts. "We are dealing here with a theme that resonates very strongly in American society," says Columbia's Coffee. "It is that the abuse of responsibility by those in high places will be dealt with harshly." The government hopes to make the threat of harsh sentences for white-collar felons the pointed lesson of Michael Milken's fall...