grl@charm.UUCP (George Lake) (06/03/85)
I think that I first learned about check kiting when I was roughly 12 years old. To think that EF Hutton managers needed to be told about it is ludicrous. When you move a lot of money around and are unhappy about the float, banks will renegotiate. When you start kiting checks in places where you know that snowstorms will cause delay, THAT'S FRAUD. However you feel about banks and their interest rates, let's not put EF Hutton into the role of David taking swings at Goliath. Don't forget that these are the guys who responded to inquiries about their mafia money laundering role with "Gee, these guys came in with suitcases full of cash and they didn't seem to mind losing some of it-- how we to know they were doing something illegal"