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June 24, 2011

Obama’s criminalization of business?

Business crime cropped2David Henderson thinks the Republicans can make political headway against President Obama by campaigning against his administration's criminalization of business.

That strategy might be viable if the Republicans hadn't just gotten through criminalizing business for the better part of a decade.

The federal government's criminalization of business policy obscures the true nature of business risk and fuels the myth that investment loss results predominantly from criminal misconduct. In turn, that myth is one of the underlying causes of the the criminalization of business lottery, which undermines the rule of law.

Thus, Henderson is right that the criminalization of business policy is terribly counterproductive. He is simply wrong about it's political basis.

The criminalization of business policy is perfectly bi-partisan. 

Posted by Tom at June 24, 2011 12:01 AM |

Comments


Isn't Wall street all about investments? Indeed,
so is it your position that top executives there
are naive for supporting Obama? I don't think so.

"At the famed E. 65th St. eatery, Obama was expected to pocket about $2.5 million for his war chest and the Democratic National Committee coffers from Wall Street fat cats."

President Barack Obama's night out in NYC expected to rake in $4M for campaign war chest

BY JONATHAN LEMIRE
DAILY NEWS CITY HALL BUREAU

Friday, June 24th 2011, 4:00 AM

Read more: http://www.nydailynews.com/news/2011/06/24/2011-06-24_bams_4m_cash__dine_nite_on_town.html#ixzz1QC99inSd

Posted by: Bill McWilliams Author Profile Page at June 24, 2011 7:21 AM

Ah, I know lots of folks from all socio-economic classes and varying political opinions, and the one belief they seem to share is the belief that Wall Street criminals looted the country and got off without being prosecuted. As a fraud expert I tend to agree, particularly in the subprime CDO market in 2006 - 2008,

This is a winning GOP strategy? I doubt it.

The federal government has not criminalised agency costs, has not criminalized business judgement, there is no business criminal lottery and if anything has done a poor job of
prosecuting the people who need prosecuted.

And Jeff Skilling was complicit in misleading investors on a grand scale and is where he belongs (although release with ankle bracelet parole should be an option now).

Posted by: Rusty Rustbelt Author Profile Page at June 24, 2011 11:52 AM

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