Word: prisoners
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...white-collar criminals due for a sympathy vote? Everyone expected the punishment to be harsh when L. Dennis Kozlowski, the former CEO of Tyco International, and former Tyco finance chief Mark Swartz were sentenced Monday, and indeed it was: up to up to 25 years in prison. But now defense lawyers and, increasingly, many others are wondering if white-collar criminals are being treated too harshly. Some violent crimes, including rape and manslaughter, can result in less than 20 years in jail...
...former Tyco executives entered the courtroom Monday with one-time WorldCom Chairman Bernard Ebbers already having been sentenced to 25 years in prison for the $11 billion accounting fraud that toppled his company (which has emerged from bankruptcy as MCI) and Adelphia Communications founder John Rigas having been sentenced to 15 years in prison for looting and fraud at his company. His son and former finance chief, Timothy Rigas, got 20 years...
...stock-market bubble burst five years ago, the wave of corporate frauds that came to light inflamed the public. Since then, bruised investors have been demanding amends. Twenty years ago, a similar rash of Wall Street fraud resulted in only a few honchos like Michael Milken going to prison, and spending less than two years there. Now the pendulum has swung the other direction. In addition to jail time, Kozlowski and Swartz must pay a total of $134 million in restitution; in addition, Kozlowski was fined $70 million, Swartz $35 million...
...great a burden?and expense?on companies working to tow the line. Cox has already said he?s going to give small companies some relief from Sarbanes-Oxley by extending for one year the deadline for coming into compliance. It could be that the recent string of decades-long prison sentences for white-collar criminals proves to be an extreme; the point at which the pendulum begins moving the other way again...
...Iraq [Sept. 5], said that al-Zarqawi's organization "is believed to have been behind barbaric attacks in Iraq." It seems only fair to ask where, on the spectrum of barbarism, we would locate the killing of Iraqi civilians, the razing of Fallujah, the depravity at Abu Ghraib prison and the self-righteous obscenity at Guantánamo Bay? And how about the abandonment of the desperate hurricane victims in Louisiana and Mississippi? In Iraq, limitless U.S. resources are deployed, while at home poor Americans, thirsty and starving, founder in toxic effluent. All around the globe, people are watching, incredulous...