Monday, February 23, 2009

Dr Allen and Mr Stanford

Further to my previous post:

This extract from an article written by Peter J. Henning and published in the New York Times caught my eye:

The frauds allegedly perpetrated by Mr. Madoff and Mr. Stanford are not just instances of questionable business practices that may have crossed the line into criminality. If the government is correct in its allegations, then these were frauds that destroyed the financial well-being of thousands of families. Allowing the process to play out at its current leisurely pace only heightens the perception that the rich and well-connected of Wall Street can avoid, or at least postpone, the consequences of their conduct (my italics).

Isn’t that exactly the way the law works nowadays? One law for the poor and defenceless, the modern-day equivalent of the petty thieves expelled to Australia in the 19th century, the Guilford Four, the inmates of Guantanamo Bay and literally countless others. And one law for the rich and powerful. Or rather, it’s the same law but in the one case applied at breakneck speed and in the other at an excruciatingly slow rate. If one wanted to be cynical one might almost suspect that the purpose, in the latter case, is to ensure that by the time the case comes to court the accused will have died.

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