There was something we called the “60 minutes test.”

Consider what would happen if Mike Wallace interviewed you on 60 minutes.

MW: but you KNEW when you invested, that the CEO had a history of fraud.

Us: …..

MW: How could you go to your investors, and with their money, invest into this company?

Us: err.

Today, you can replace the person in Wallace’s chair with Spitzer, or Russert, or anyone else.

The point remains the same, if you're not able to give a good answer for your actions, you're better off not doing them.