Friday, July 14, 2006

Natwest 3 - pour encourager les autres

Am I alone in feeling little sympathy for these guys?
Fact: there was a massive fraud at Enron
Fact: a lot of ordinary people were fleeced and hurt
Fact: many financial institutions facilitated the fraud
Fact: the FBI has a plausible case (see indictment & complaint)

There is something nauseating about the media campaign to protect them. If they stride the globe profiting from international capital markets and transactions, they can hardly go all Little-England when it comes to accountablity. That you might end up in a US maximum security prison, sends good signal to actual and potential white collar criminals.

1 comment:

Clive Bates said...

Hi Matt

Well I agree about anti-Americanism, but think that's an explanation rather than a reason. The asymmetric extradition point is more an annoying distraction... but has become the issue. We have extradition arrangements like this with EU member states, Australia and a few others.

I think the fair trial point is a bit of a stretch... the juries will be ruthless weeded by the defence, the appeals process is very thorough. If they have evidence of a crime in their jurisdiction then what choice do they have??? It is good to go after white collar criminals.