American Bar Association, Fraud, Mary Jo White discussed on On The Media

On The Media
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Automatic TRANSCRIPT

The american bar association even the aclu they succeed in changing the conversation from arthur andersen's accounting fraud and obstruction of justice to the innocent employees who've lost their jobs and it could mean the end of andersen accounting which is already lost scores of clients and has already been forced to throw thousands of workers into the street the government is punishing everyone at the company being punished t to a couple people that made some wrong decisions it's an amazing pr victory and it's so affective that it's internalized by prosecutors themselves and not just republican lese fair prosecutors but by democrats and by the middle of the ought people like mary jo white who was the us attorney in sun the district then becomes a corporate defense lawyer then becomes obama's head of the sec before going back to her firm it's become a corporate defense lawyer she is saying arthur andersen was a mistake in the head of the criminal division of obama's department of justice lanny breuer is saying prosecuting arthur andersen was a mistake they have decided that we can never prosecute large companies again they're too many malign collateral consequences and this is a disastrous conclusion alright so counterintuitively populist anger is inflamed about the government's pursuit of that group formerly known as fat cats that's one incentive for prosecutors and regulators to pull punches the other two which you just alluded is that revolving door between the department of justice and the securities and exchange commission and the defense bar your implication is that prosecutors were either going easy on pals or feathering their nests for later employment but isn't the opposite.

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