133 Lincoln. Tell me the facts, please, that you relied on to make that assertion in your testimony. A. I'm referring to the December 1986 release of information to The Wall Street Journal. Q. When you say you failed to reach a mutual understanding, did you ever have à conversation with Gray about that event? A. No. Q. Did you ever do anything to attempt to STICKLEY & SCHUTZMAN, INC. 14 15 16 17 18 19 20 21 22 23 24 25 A. Not on that point, no. 8. While you did ask for a memorandum to be issued by Mr. Gray, as a result of that episode, correct? A. Yes. Q. Is that the only contact you had with Mr. Gray.concerning the December 24th Wall Street 17 18 19 20 21 22 A. No. A. No. to have some input with him? Q. All right. At the bottom of page, page 38, please. Would you take a moment to read the second paragraph on that page and over to the top of page 39. I intend to ask you about vendetta attitude on the top of page 39. Are you with me? Yes. 25 Q. At the top of page 39 after STICKLEY & SCHUTZMAN, INC. 21 22 23 24 Bear with me just a second. (Consultation was had between the witness and counsel.) 9. (BY MR. GALLAGHER) Let me just ask You 25 November 21st, that, quote, "There was also at TELEPHONE 283-0436 S 6 10 were trying to hold Lincoln up as an example of the evil that results from direct investment excesses? MR. MCALEER: Objection. THE WITNESS: That is my conclusion now, after three years of information coming to my attention. Q. (BY MR. GALLAGHER) Do you believe that Black and Gray tried to punish Lincoln for its vocal objections to the direct investment rule? 11 12 13 14 15 16 17 18 19 THE WITNESS: This is one of those phrases where my choice of words was not very good. I don't, I don't think "punishing" was exactly the right word. I think using them as an example of a direct investment violator is a correct conclusion. And I don't think that the use of the word "punishing" was a very wise choice of words on my part. STICKLEY & SCHUTZMAN, INC. 381 7 8 9 A. I do not believe that had Lincoln challenged the reg, without already being in violation of it, that people would have had this desire to hold them out as the example. 10 The fact was there was a violation, and 11 12 13 there was opposition to the regulation. And I 14 15 16 17 18 19 20 21 22 Q. Well, at least part of it was because of the vocal objection, at least part of the reason for Mr. Gray's being upset in your view was the vocal objection to the direct investment THE WITNESS: I'm sorry. I didn't get the |