One Very Tragic Death

Tyler Durden's picture

Even as the Lehman scapegoating campaign is on in full force, there is little doubt that the man who somehow was in the middle of virtually everything, was not Dick Fuld, or any of the bevy of rotating Lehman CFOs, but Lehman's very much under the radar Global Product Controller, Gerard Reilly. Reilly was the point man on Repo 105, the point person for E&Y's "investigation" into the Matthew Lee whistleblower campaign, Lehman's Level 2 and Level 3 asset valuation, the brain behind the idea to spin off Lehman's commercial real estate business, Lehman's Archstone investment, and likely so much more. Reilly stayed on at Lehman, solid as a rock, even as the CFO's above him rotated one after another. Tragically, on December 29, 2008, a 44-year old Gerald [sic] Reilly died while skiing alone on New York's Whiteface mountain, while on a trip with his wife, 4 small children, and two other families.

Here are the facts.

Gerard Reilly was Lehman's Global Product Controller. Gerard was at the nexus of virtually all of the recently disclosed "shady" transactions. Gerard reported to Lehman's CFO. And while the CFO's came and went, Reilly was with Lehman until the bitter end.

Here is a summary of some of the key activities in which Gerard was party of.

Repo 105:

In a November 2007 e-mail, O’Meara, then-Lehman CFO, wrote to Reilly,
“I realize we’re in a tough spot given mkt, but we should be pressuring
everywhere to try to end year in good way on balance sheet . . .
especially since the rev’s are not materializing.


In February 2007, Joseph Gentile, FID’s then-Chief Financial Officer who reported directly to Gerard Reilly, sent a proposal to Ed Grieb, then-Global Financial Controller, petitioning Grieb to increase the firm’s $22 billion combined firm-wide Repo 105/108 limit to $25 billion.


In the summer of 2007, Grieb and Reilly enlisted the help of John Feraca, Kentaro Umezaki, and Michael McGarvey in an attempt to move mortgage-backed securities into the Repo 105 program. E-mail from Gerard Reilly, Lehman, to Steven Becker, Lehman, et al. (Aug. 16, 2007) [LBEX-DOCID 251602] (“Why can’t we repo 105 some prime AAA stuff?”); e?mail from Steven Becker, Lehman, to Gerard Reilly, Lehman, et al. (Aug. 16, 2007) [LBEX-DOCID 251603] (“I spoke with John who is currently trying to get off as much of the European deals [apparently CMOs or collateralized mortgage obligations] as he can via REPO 105.”); e-mail from Gerard Reilly, Lehman, to Steven Becker, Lehman, et al. (Aug. 16, 2007) [LBEX-DOCID 251605] (“Any mortgage should be our highest priority.”); e-mail from Kentaro Umezaki, Lehman, to Gerard Reilly, Lehman (Aug. 16, 2007) [LBEX-DOCID 1905992] (“Who can give me a repo 105 status/projection. This is around the mortgage inventory and using repo 105. . . . I need some sense of what we are doing, and whether we can move some of the high rated mortgage products into that framework.”); e-mail from John Feraca, Lehman, to Gerard Reilly, Lehman (Aug. 18, 2007) [LBEXDOCID 4553350] (Feraca and Reilly discuss putting either commercial mortgage backed securities or residential mortgage backed securities into Repo 105); e-mail from Gerard Reilly, Lehman, to John Feraca, Lehman (Aug. 18, 2007) [LBEX-DOCID 4553351] (“Many benefits to us getting these assets [CMBS and RMBS] into the [Repo 105] program.”); e-mail from John Feraca, Lehman, to David Sherr, Lehman, et al. (Aug. 19, 2007) [LBEX-DOCID 4553352] (“[W]e are looking at the possibility of Repo 105 for AAA RMBS and CMBS positions . . . only want to focus on non-agency products for this exercise as both agency pass-thrus and agency CMOs roll up as government or agency products in the balance sheet, not mortgages.”);


Gerard Reilly, Global Product Controller, appointed McGarvey, a product controller for Finance in FID to be the point person for Lehman’s Repo 105 program. Examiner’s Interview of Michael McGarvey, Sept. 11, 2009, at p. 10; see also e-mail from Michael McGarvey, Lehman, to Gerard Reilly, Lehman (Sept. 4, 2007) [LBEX-DOCID 3232534] (“We have been reviewing with the London repo desk and finance on a regular basis (We have roughly 80% of the month end 105 balance outstanding for the entire month although the daily average has been slipping.) We’ll stay in front of it for the rest of the year.”).


Notably, only days before Lehman’s bankruptcy filing, Gerard Reilly asked Michael McGarvey to remove all references to Repo 105 from a third quarter schedule of all of Lehman’s US government securities. See e-mail from Gerard Reilly, Lehman, to Michael McGarvey, Lehman, et al. (Sept. 12, 2008) [LBEX-DOCID 641537].

Reilly was likely not much liked by Lehman's FID group:

e-mail from Gerard Reilly, Lehman, to Joseph Gentile, Lehman (Feb. 21, 2007) (stating the impact of $10 billion balance sheet breach by FID on Lehman’s net leverage ratio and stating: “These guys are going to have to take accountability for under performance. At least tell guys to cut b[alance] s[heet] if they don’t make money.”); e-mail from Joseph Gentile, Lehman, to Gerard Reilly, Lehman.


On June 17, 2008, Reilly circulated to McDade, Lowitt, Andrew Morton (Head of FID), and Chris O’Meara a document entitled “Balance Sheet and Key Disclosures” that incorporated McDade’s plan to reduce Lehman’s firm-wide Repo 105 usage by half – from $50 billion to $25 billion in third quarter 2008. In response to Reilly’s circulation of the presentation announcing that Lehman’s firm-wide Repo 105 usage would be cut by 50% in the third quarter 2008,  Morton complained that the proposed balance sheet target for FID in third quarter 2008 was identical to the second quarter target, but with the Repo 105 limit cut in half, the Rates business of FID would not survive.


November 2007 e-mail from Reilly to Clement Bernard, Reilly wrote: “Let’s get our best thoughts on fid b[alance] s[heet]. We are slipping in real estate. Take a look at liquid holdings like cp and items we can put into the repo 105 program. We need fid close to 5b on net.”


Even near the time of Lehman’s bankruptcy, FID continued to perform poorly. In response to a late August 2008 e-mail from Reilly asking, “How much repo 105 do we have now and how much will we have at 8/31,” McGarvey replied, “FID is the worst run division in the company.”

Curiously, Reilly used CDS alongside Repo 105 for balance sheet masking:

Notably, Reilly kept O’Meara informed of these efforts by forwarding to him the e-mail communications with Feraca and Sherr. At the same time, per O’Meara’s request, Grieb made inquiries regarding a potential credit default swap structure for Lehman’s RMBS and CMBS securities in addition to the plan to move them into the Repo 105 program.  Specifically, O’Meara told Reilly that “the plan is to do both [Repo 105 and credit default swap] if all checks out fine with legal and accounting.

Reilly sure kept Erin Callan well appraised of all Repo 105 activity, contrary to her pleading the Fifth:

In February 2008, Reilly again wrote Callan, forwarding to her an e-mail with an attached FID Balance Sheet PowerPoint presentation that “was used to educate sr fid guys on the bs and generate ideas to make the bs  target.” The e-mail forwarded to Callan noted that the FID team working on balance sheet issues had reached the  “recommendation that Repo 105 program is expanded.”

Reilly was the guy to whom E&Y's auditors Schlich and Hansen reported. Also, based on the above disclosure, either Reilly or Hansen was lying:

Following Ernst & Young’s June 12, 2008 interview of Lee, Schlich and Hansen met with Lehman’s Gerard Reilly to discuss Lee’s assertions regarding improper valuations. During that meeting, Hansen informed Reilly of the $50 billion Repo 105 figure Lee provided during Ernst & Young’s interview of Lee. According to Schlich, Reilly told the auditors that he had no knowledge that Lehman used Repo 105 transactions to move $50 billion in assets off its balance sheet. “Hillary [Hansen] took away from the meeting with Reilly that he did not know and it was not $50 billion.

Reilly was the man in charge of supervising and validating Lehman's desk marks.

Several witnesses gave conflicting statements as to whether Product Control had the ability to effectively provide an independent check on the business desk marks. Walsh told the Examiner that Product Control existed on an  independent track and could not be “frozen out” of the valuation process. Kenneth Cohen also stated that Product Control ran on a “parallel track,” and came up with its own numbers running its own models. Kenneth Cohen stated that the business desk had no control over Product Control and that, if the business desk could not convince Product Control that a number was correct, Product Control could elevate the issue, all the way up to Reilly if necessary.

Reilly was involved in the Arcchstone (mis)valuation:

On August 22, 2008, Gerard Reilly, the Head Product Controller, asked Abebual A. Kebede, GREG’s Vice President of Valuation Control, to “put a memo together” on the valuation of the Archstone commitment, as “this will get a lot of focus.” The Examiner did not locate any evidence that demonstrated or suggested that Lehman engaged in any systematic effort to value its Archstone commitments prior to this date.


Barron’s published an article on January 21, 2008 suggesting that Archstone equity could be worthless. Lehman prepared an analysis that rebutted Barron’s methodology and conclusions. This Subsection of the Report addresses the Examiner’s analysis of the Barron’s article and Lehman’s rebuttal. The Barron’s article concluded that Archstone’s equity may have been worthless based on Archstone’s high level of debt and the capitalization rate implied by the stock prices of publicly traded apartment REITs. The Barron article’s thesis was that the increase in capitalization rates was large enough to reduce the value of equity investments in Archstone to zero. Hughson also said that comparisons of Archstone to AvalonBay were inapposite because AvalonBay’s assets were not as intrinsically valuable as Archstone’s assets. However, after the Barron’s article was published, Reilly, the Global Product Controller, asked Jonathan Cohen in an e-mail to “look at” the capitalization rate of AvalonBay when Lehman “bought Archstone” because AvalonBay was the “best comp.”

Reilly was in charge of all lehman Level 2 and Level 3 valuations, the source of much consternation in Lehman's latest three analyst calls:

Christopher M. O’Meara, Lehman’s former CFO, described Reilly as the person ultimately responsible for valuations of Level 2 and Level 3 assets.

Reilly may have been involved in intentional number fudging in Q3 writedowns which were "made up numbers":

Jonathan Cohen also stated that the write-down numbers for specific assets on this document were "made up numbers," as he did this analysis very quickly and had to meet the scenarios' targets. For instance, he stated that the write?down number for Archstone on this document was a "completely made up number." Jonathan Cohen explained that there was a lot of juggling to get the numbers to fit the total write-down scenarios and that it was hard to get down to these numbers in the last two scenarios. Jonathan Cohen told the Examiner that it was his opinion at the time that the proper write-downs in the third quarter would have been somewhere between $1.5 billion and $2.2 billion, which are the write-downs reflected by the first two scenarios in this document. He also noted that he personally delivered the document to Reilly and that it was a "good question" whether Reilly asked him not to e-mail it.

Reilly was among the brains at the core of the Lehman "panacea" that was supposed to save the firm from filing: the spin off of all toxic commercial real estate asset:

See e-mail from David Goldfarb, Lehman, to Paolo R. Tonucci, Lehman, et al. (July 19, 2008) [LBHI_SEC07940_404388] (“Need some creative ways to fund Spinco. Best to get some relationships which do commercial real estate lending in scale. They could buy seniors or mezz’s. Start thinking, this is key challenge that needs to be nailed”); e-mail from Gerard Reilly, Lehman, to Ian T. Lowitt, Lehman, et al. (July 22, 2008) [LBEX-DOCID 2997880] (“[S]elling mezz certainly helps as it supports validity of capital structure. If we can find other SR debt in market and gain some comfort on our spread then we could call it [a Level II asset]. Placing some Sr is best”). Accord Examiner’s Interview of Richard S. Fuld, Jr., May 6, 2009, at p. 7.

and so forth...

and so forth...

Fast forward to December 29, 2008:

Wilmington, NY - A 44-year old New Jersey man died Monday while
skiing at Whiteface Mountain Ski Center in the Adirondack Mountains of
Upstate New York.

New York State Police based in nearby Ray Brook, N.Y. have confirmed
that Gerald Reilly of Morristown, N.J., a stockbroker with Lehman
Brothers, was skiing alone on the John's Bypass Trail, a connector
between the Excelsior and Lower Cloudspin ski runs that's accessible
from either the Cloudsplitter Gondola or the Summit Quad chairlift,
when he left the trail and hit a tree. A skier following behind Reilly
witnessed the incident and contacted ski patrol.

Reilly was evacuated by the Whiteface Mountain Ski Patrol and
transported to Adirondack Medical Center in Lake Placid, where he was
pronounced dead at 12:36 p.m. An autopsy has confirmed that Reilly died
of internal trauma.

and this:

Essex County Coroner Walter Marvin Jr. then ordered an autopsy of
Reilly, which was conducted by pathologist Dr. C. Francis Varga at
AMC's main hospital in Saranac Lake. Varga determined the cause of
death to be traumatic internal injuries due to a skiing accident.
Marvin ruled the death to be accidental.

Although winter storms
left more than a foot of natural snow for skiers prior to Christmas,
much of that snow has melted in recent days. The Whiteface Web site
reported conditions to be "loose granular and wet granular" Monday.

holiday period is generally one of the busier times of the ski season,
and there were more than 4,000 people at Whiteface Monday, said General
Manager Jay Rand, who said the accident was "unfortunate."

We get some more information from Kimreilly at a message board:

1. His name was in fact Gerard Reilly, of Morristown, NJ--there on a
skiing vacation with his wife, 4 small children and two other families
who were friends.

2. Thank you for all of the condolences and nice words I see here.

3. I guess we will never know his frame of mind during all of this,
although people who were there that day have been kind enough to post
indication on the www for me of what the conditions were...not only was
he was a decent skiier but he was over 6'4" tall and wearing a
helmet---it may always be a mystery to us how he succumbed to his
injuries so fast...

4. Yes, the Holidays for our family will be fked up for a very very long time.

Truly a tragic death for the Reilly family, and our condolences. That said, Reilly took many answers with him. And most notably - does Gerard's death add to list the list of questions?

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Frankie Carbone's picture

Wow. The deaths seem to be piling up. Is it coincidental? 

merehuman's picture

countries world wide on edge ie  sovereign default potential

coincidence? Some lucky devils coincidentally got very rich

GS pirates in every CB is also coincidental


TuffsNotEnuff's picture

*** After Florence Cioffi Was Killed ***

That was an overt DUI hit-and-run killing. 60 mph up Water Street. Right at Goldman, Sachs's offices at Old Slip, back January 2008. She was trying to hail a cab.

The driver, CEO George Anderson of EEI, was able to arrange 15 days in Rikers and a $500 fine. That clearly ended Wall Street top managers' fear of criminal prosecution. As bad as the carriage scene from "A Tale of Two Cities."

Criminality ??? The CDS contracts were based on the Sand State CDO "balloon mortgage" scams -- marketed as "Consumer" bundled debt. From 2003-2007 that totaled to more than $2-trillion of synthetic "derivatives" that were nothing more than playing "house" against "bettors" such as Mike Burry.

And who put up the big "bettor" money to cover the $2-trillion ? Hundreds of billions lying around... ready to be used to bet against the performance of "balloon" mortgages. Who were the big-big-big time versions of Mike Burry ?

Who would have worried that federal prosecution could loosen a man's tongue ?

milbank's picture

Yeah, right.  Let me guess.  Someone sabataged the brakes on his skis?


Bananamerican's picture

It's a "Godspiracy".

Rot in hell Reilly boy....


of course "condolences" to his family.....

"Holidays for our family will be fked up for a very very long time."...

...uncle Gerard always gave out the best SWAG!

Frankie Carbone's picture

Don't be silly. Key (potential) witnesses and investigators dying left and right after a major event is the natural course of things. Sort of like all the deaths associated with Whitewater, the Kennedy assassination, ect...

Don't read too much into it. It's just how nature works. A major event goes down and the folks associated with it die off. It's probably related to stress of something like that. 

Reflexivity's picture

No one may ever know what really happened; conspiracy or otherwise, but...

Consider this:  The rich and powerful (businessmen, politicians, and entertainers) come into contact with many more 'death-causing' situations than the Average Joe, so the chance that something bad will happen to the rich and powerful goes up on average.

In other words, the rich and powerful do not have more fatal accidents because they have more money and influence (or because they may do business or otherwise be involved with other shady business people/deals).

It is the lifestyle of the rich and famous that kills, not who they know or the fact that they've gotten mixed up in bad deals.  (Only in the mafia does it matter 'who' you do business with.  Executives don't kill eachother, but mobsters do.)

Consider the following elements of the lifestyles of the rich which actually increases the chances for fatality:

- more air travel, especially in private air planes and helicopters which are 'less safe' on average than your garden variety jumbo jet.

- Homes with swimming pools.

- Exotic vacations and other 'outdoor' activities (other than the air travel mentioned above).  Skiing is dangerous.  Various water sports and activities (surfing, jetskiing) are dangerous.  Sailing and boating is dangerous.  Hiking, climbing, moutaineering is dangerous.  The list goes on and on.  When you leave the city (which is not without its own risks) and go on vacation to a the beach, mountains, country, etc., you are increasing your risk profile--especially for those who are not experts in the given environment.

- Drugs.  Not just cocaine. The more you drink, smoke and party (especially if it becomes habit-forming), your risk profile increases.

- List goes on...  The best example is to think of that risk-loving executive, Leland, in the movie Along Came Polly.  He was basically uninsurable (by Ben Stiller's character's insurance company) because his lifestyle was so aggressive--sailing (in storms), base jumping, etc.

So the point is that while having money, power and status may get you better quality food, shelter and health care (which increases life expectancy) it also may expose you to many more life-threating risks like plane crashes, skiing accidents, overdosing, etc., etc.

Conspiracy aside, getting rich has its hidden risks.  And they are of the highly negative black swan variety.

It's the lifestyle, not the bad business deals that are the problem.

However, it is easier to do a 'coverup' if the person is rich and poweful:  Think of the two lawyers in John Grisham's The Firm who died 'mysteriously' while scuba diving in the Camans.

Thoreau's picture

Shades of Sonny Bono?

velobabe's picture

On January 5, 1998, Bono died from injuries sustained when he struck tree while skiing?

Gordon_Gekko's picture

His [Sonny Bono's] death came just a little less than a week after Michael Kennedy, a son of Robert F. Kennedy, died in a similar skiing accident in Aspen, Colorado.

Another nice little "coincidence", I'm sure.

velobabe's picture

yeah i was skiing that day on aspen mt., copper run.

It is the lifestyle of the rich and famous that kills,

sadly that is very very true. they are falling like soldiers in aspen anyway. they came there to hide, but be able to preen their wealth, but pushed to be adventurous. a lot of trees get in their way. i think that same tree got in the way of ken crooked E lay. what doesn't bend breaks†

just my 2¢'s

retheauditors's picture

The external auditors, EY, did not "report" to anyone on the Finance or Accounting team.  They "report" to the Audit Committee of the Board of Directors who has legal responsibility for hiring, firing and monitoring their activities.  

putbuyer's picture

I had a nightmare

- that Barack Obama would collude with the banks to keep the market up

  until he could pass his health care bill. In exchange, Obama and the Fed

  would bail out the banks.


I had a nightmare

- that the middle class would be on the hook to pay for the biggest Ponzi

  scheme in the history of the world. Many to stupid to know it.


I had a nightmare

- that Obama, Timmy and helicopter Ben, would again collude to collapse

  the market intentionally as further payment to the TBTF banks for the

  next round of constitutional changes.


I had a nightmare

- that with Obamacare, like socialized medicine countries, sports leagues will go

  bankrupt, and one “forget about your miserable life” sport will be left standing,

  keeping the drones inoculated. MLB already has a rosy deal. And in the EU…


I had a nightmare

- that Obama and his cronies would come to feel the wrath of the American

  people, and with civic unrest, they would see the error of their ways and

  beg for forgiveness at the chopping block.

JR's picture

Ahhhh... A nightmare with a happy ending.

Harbourcity's picture

You got to stop eating right before bed.


nathan1234's picture

Actually I had a Dream

A dream that finally, markets realised that the banks the country were insolvent and finally crashed.

My nightmares come only after



the grateful unemployed's picture

personally it seems to me that if you are skiing and you hit a tree that constitutes an external injury. and if you become a liability to the company, then its the other kind.

dumpster's picture

tree was seen to move in his  direction,,, reported by an unnamed source,,

also from the same source,, who just happened  to be seconds behind


the tree just grabbed him..and a big branch swipped him across the head.   he died almost instantly,   


Rick64's picture

I heard it chased him.

Frankie Carbone's picture

Wow, that seems so James Bond-like. 

Rick64's picture

Ok case closed.

Boy that kool-aids good.

LeBalance's picture

Another in a long line of completely believable single bad apple theories.

Cognitive Dissonance's picture

Completely believable. In a culture conditioned to suspend belief every time they sit down in front of the boob tube, why would we expect them to engage their critical thinking capabilities when viewing the evening news cartoons.

"That's All Folks!"

The fact that the the general public continues to swallow the lone gunman, one bad apple, a rouge trader, it was a coincidence, black swan event propaganda is proof positive that the public doesn't wish to look under the bed for fear of finding the bogeyman. One can always remain ignorant, and thus find everything believable, when one isn't really looking. 

"What truck? I don't see no stinking truck!"

Mr Lennon Hendrix's picture

Last night I watched the sun set as Jason and the Argonauts sailed across the clear blue.

Comrade de Chaos's picture


According to researchers at the University of Vermont and the Rochester Institute of Technology, accidents claimed the lives of 562 snowboarders and skiers at U.S. ski resorts between 1992 and 2005. The majority of the fatalities were skiers. Experienced males between the ages of 18 and 43 accounted for most of the deaths, most commonly due to severe head injuries resulting from high-speed impact with a tree.


the odds were rather small... 37/per year, less likely than dying from a plane crash .

Careless Whisper's picture

there have been reports that Ms Palfrey had information about the 9/11 cover-up. the American people are clueless about who the real gangsters are.


Careless Whisper's picture

wow. quite a list. can't decide if my personal fav is this

Suzanne Coleman - Reportedly had an affair with Clinton when he was Arkansas Attorney General. Died of a gunshot wound to the back of the head, ruled a suicide.

or this

James Milan - Found decapitated. Coroner ruled death due to natural causes.

MarketTruth's picture

Just wait until everyone learns about how busy the Clintons are with Arkancide

Careless Whisper's picture

why do i get the feeling that mister reilly knew about a lot more than repo 105?


merehuman's picture

The destroyer star and the future of mankind, by Lucus at brave new World bookstore can be found on utube. Found the presentation sincere factual and believable. Was wondering why 2012 was such a big deal. Now i say let the banks have the money, i want the mountaintop. 13 parts , some very interesting history. If gravity still works, and a black hole powers our galaxy we dont need to worry about money anymore. The galactic plane will settle all debts. sorry about our luck, but dont worry we wont all die.


sweet ebony diamond's picture

we cannot let Dick Fuld be the only scapegoat.

we need to put the frat in their own house with no girls for a long time.

sweet ebony diamond's picture

hey mr. cuomo.

you got c** in your eyes or something.

let the policemen be.


Frankie Carbone's picture

I don't understand this statement. Are the police more special than everyone else? 

loup garou's picture

Leave the tree. Take the cannolis.

E pluribus unum's picture

The difference between the Corleones and the banksters is that Don Corleone never took it all. He always left a few crumbs for the little people.

malusDiaz's picture

Not all plane riders ski though,


How many total times did the total number of skiers for the year go sking?


Using that number should indicate a close to 1% of 1% =)

fresbee's picture

Tyler very good work.
Impressive snooping around and relating everything back.

Crab Cake's picture

I would LOVE to interview the witness, the resue team, and the coroner.  Do we have any photos of the "accident" scene, satellite or otherwise?  Hmmmm.....

Well, on second thought, what do I care?

He deserved to die.  It's not like his family is going to be worse off, like mine is and will be, in the world f*&ks like Reilly have created.  Maybe he'll have a chance at redemption in the after life or through reincarnation?  I forgive him, now he's paid his due, and good riddance.  Whoever did it, why ever they did it, well, it works for me.  I'll strike one up for justice for the people.  The ends justify the means, right?  That's the rules our enemies play by, right?

Now all we have to do is deliver justice to the people who wanted to keep him quiet, the oligarchs, the bankers, the corrupted politicians, the mega corporations, so on and so forth (read as criminals).  Maybe we can arrange a tree to jump out in front of them too?

Well, on third thought, what do I care?

I'm going to recommend we let this thing play out awhile.  Perhaps the sharks will kill a few more of their own, or commit suicide, before we have to do the dirty work of saving this nation.


We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

Miles Kendig's picture

Now, for the rest of the story.  Page 3.

jules from aus's picture

probably clearer to simply pose the question right from the start


Was he murdered for knowing too much??


there we go - everyone is breathing easier now...



anony's picture

Sometimes a cigar is just a cigar.  Or not.