New York Sues Five Telecom Execs
from the making-a-name-for-himself dept
Eliot Spitzer is really working hard to make a name for himself fighting against corporate sleaze on Wall Street. He's done a good job so far getting a ton of publicity for himself (think he wants to run for higher office?), and the latest move is to sue five telecom executives, including Bernie Ebbers, Philip Anschutz, and Joseph Nacchio (no, he's not going for the small fry on this one), for not disclosing conflict of interest issues on IPO allotments handed to them by Salomon Smith Barney. I have no problem with him going after some of the biggest offenders, but I still question how much is really being done to prevent these sorts of things from happening in the future - and how much is just to appease an angry public (and make a name for some people).
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Prevention
How could a free society insure that business doesn't do anything illegal? You can increase penalties but you can't stop people from breaking the law.
The people are happy that the government is taking these rich thieves to court. This is want should be done. The people are happy to see that the rich are not allowed to use their connections in order to avoid a criminal suit. The rich are now treated the same way as us working slobs.
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