White Collar Crime

Think Equifax and Wells Fargo.

Millions of American people were compromised, tens or hundreds of thousands were inconvenienced, and thousands were damaged beyond repair.

When a poor man steals an apple from a grocery stand, he earns himself a month in prison.  When an addict gets caught with the goods (cocaine, marijuana), in some states he is locked up and they throw away the key.  When a corporate big shot gets caught in a national scandal affecting millions of people, he may resign, but he still receives his golden parachute and he doesn’t forfeit any of his ill-gotten wealth.  And he never goes to prison (two Enron officials excepted).

A part of the problem is an institution called “limited liability.”  Limited liability was an invention of capitalism that has served us well, protecting owners, shareholders and high-level managers from personal liability for the unhappy consequences of the actions of the corporation.  Limited liability rested on a good faith assumption on the part of the corporate owners and managers.  But today limited liability protects corporate officials from the consequences of unlawful actions that were taken with a full understanding of the mischief that they would cause.  The institution of limited liability should be utterly repealed until corporate America can come up with a new version that ordinary Americans would approve.

Who does not believe that this is unfair?  I am certain that 99+% of Americans (who understand my simple point) believe it is unfair, certain that the only folks who (claim to) think it is all right are the tiny %age of folks who benefit from it, like corporate owners and high-level corporate managers.  Then how is it possible that the law benefits the 1% at the expense of the 99%?  How can this happen in a democracy, where We the People rule?  Because the 1% pay for legislation that benefits them.  Because we do not live in a democracy.  And, dear reader, until you and your fellow-Americans get off your collective asses and DO something, the 1% will continue to pay big bucks for lobbyists to get them what they want.  They laugh at the notion that we live in a democracy!  And so far they are having the last laugh!  It's on you, my friend!  Read my book!

This unequal system is not a “broken system.”  This is a system that screams for redress.  And if the redress that I just hinted at is not forthcoming, then it calls for revolution, and a violent revolution if need be.

By whatever means necessary!

P.S., I may not be a classical Republican or a classical conservative, I may not be a classical Democrat or a classical liberal, and I am surely NOT a partisan of either major party; but I am always thoughtful, I rarely have no opinion, and I am not a moderate!