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Too Smug to Jail


#1

Too Smug to Jail

Matt Taibbi

As we reach the close of an election season marked by anger toward the unaccountable rich, The Economist has chimed in with a defense of the beleaguered white-collar criminal.

Thanks to Donald Trump, the speech controversy moves beyond campuses


#2

Obviously the Economist should always be taken with a ship load of salt at all times. Nevertheless, I wonder what their position would have been on mafia criminality during the wave of prosecutions in the 50s, 60s and 70s.
"Sorry, your honor, but Sammy the Bull was merely taking the expected business risks associated with the Gambino corporate enterprise."

I don't know how these pathetic ideologue slugs can sleep even a wink at night.


#3

I have always taken the Economist as the British mirror of the Wall Street Journal, and basically have assumed they would be limited to spewing the conservative vomitus that has poisoned and warped our political and economic discourse. This imbecile's defense of CEOs is just another Zombie-Sycophant whine, maybe hoping to get some sort of monetary reward from his masters after publication.


#4

You know, the funny thing here is that there actually is some substance to Holder's and The Economist's apologias here. It really is true that if there is enough money going into the bribe, someone will be found to commit the offence.

However, it does not really mean that the individuals actually involved are less guilty. It just means that such institutions cannot reasonably be allowed to exist.


#5

Just look at the last issue of this rag to see where they come from. Putin pictured as some red eyed devil with images of MIG jets as pupils. The rag then has an entire section running down Russia, claiming it a basket case and insisting Putin the problem and that Russia should open its economy back up to "western investment".

The magazine is just neocon swill.


#6

The Economist is indeed part of the Obama / Clinton tag team doing everything possible to restart the cold war with Russia as a means of enhancing revenue for the military industrial media infotainment complex (MIMIC).

The 1945-1991 cold war was one of MIMIC's favorite profit centers and that revenue has been sorely missed during the past quarter century.


#7

It's kind of interesting that corporate leaders can master the complexity of their institutions to the extent necessary to maximize the value of their stock options, but can't prevent criminal violations. Maybe that's why they only earn hundreds of times more than the average worker rather than even more.


#8

Thanks again Matt for being a real journalist.


#9

The people at the top - the CEO, other corporate officers, and the Board of Directors should bare the brunt of the responsibility and the consequences for their transgressions. Not only removal from their position in the corporation, but jail time, should be a common consequence. The crimes these people get away with in the so-called name of their corporation frequently have far worse consequences for society than many of the low level offenses for which conviction can lead to substantial jail time.

There is corporate responsibility as well and serious and/or repeated violations should be cause to revoke the corporate charter.


#10

It has always been thus and ever will be.


#11

Good news to hear they have a clue how much we hate them. I was wondering if the hubris had blinded them so completely that they didn't get it. A giant squid on the face of humanity is Matt's famous line. The imagery is so accurate, I was hoping somehow it had drifted to the high levels and sunk in.
They have sucked the life out of this country and hollowed out the laws so that it is hardly recognizable. They should all be in Gitmo.


#12

The padding in their wallets comforts them.


#13

Well, fine then, its an institutional problem. Then pull their corporate charter, sieze their assets and lock the doors! If its an "institutional" problem and no one is to blame, then shut down the whole damned institution! If it means shutting down the whole damned stock exchange, then shut it the fuk down! If it causes the whole entire financial train to crash, then I hope it burns too! Perhaps then we can replace it with an "institution" without those problems.... Since 'no one is to blame'....


#15

There used to be a charge and jail time for the guy that drove the get away car. They used to tell us that if you know about a crime and do not report it we would be charged with "accessory to crime".

What happened to the "accessory to a crime"? What happened to "the buck stops here". Managers/Ceo's et al are liable for what their employees do?

But then the elites have hired lobbyists to write laws to protect them from prosecutions.


#16

Memo to The Economist, the Fed, the SEC and the "Justice" Department: One word: R I C O. These WS slugs would make Tony Soprano weep. With envy.


#17

It is the business of government to regulate business, it is the business of business to create the regulations for the government to regulate business.


#18

just so.


#19

“If the defendant answers: It was not I as a person who did it, I had neither the will nor the power to do anything out of my own initiative; I was a mere cog, expendable, everybody in my place would have done it; that I stand before this tribunal is an accident – this answer would be ruled out as immaterial. For to answer: ‘Not I but the system did it in which I was a cog,’ the court immediately raises the next question: ‘And why, if you please, did you become a cog or continue to be a cog under such circumstances?’”

~ Hannah Arendt, on the trial of Adolf Eichmann


#20

One of Wikileaks data dumps shows that the harridan believes Wall St knows what is best for Wall St so they should be the crooks monitoring the crooks ... boy is it time for the guillotine!


#22

I'm with Sioux Rose on the "we" concept. The candidates "we" are presented with do not include any real choices.