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View Diary: FALL OF THE HOUSE OF MURDOCH XVI: BREAKING: DOJ looking at RICO Statutes (151 comments)

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  •  How major this is (8+ / 0-)

    If Newscorp gets RICO'd, it will have to post a performance bond equivalent to the proposed forfeiture, in lieu of having its assets frozen.  This was put in to ensure that there's something to seize in the event of a guilty verdict.  And if it ever has to be paid, it will take precedence over all of Newscorp's obligations.  If that bond ever has to be paid, Newscorp's shareholders will be all but wiped out.  For this reason, banks will not extend credit to a company under a RICO indictment.

    Bottom line--given these facts, plus the anger that's already there over evidence that 9-11 victims were hacked, if these rumors are at all true Newscorp is probably in settlement talks right now.

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