But that’s not possible – because, with a system that relies on multiple charges and an ability to pressure everybody else in the case to switch sides, you can win (as Conrad did) nineteen-twentieths of the battles and still lose the war. He’s a wealthy businessman, and nobody has any sympathy for those. But it’s even worse if you’re a nobody. A New Hampshire neighbor of mine had the misfortune to attract the attention of federal prosecutors for one of those white-collar “crimes” no one can explain in English. The jury acquitted him in a couple of hours. Great news! The system worked! Not really. By then, the feds had spent a half-decade demolishing his life, exhausting his savings, wrecking his marriage, and driving him to attempt suicide. He’s not a big scary businessman like Conrad, just a small-town nobody. And he’ll never get his life back. Because, regardless of the verdict, the process is the punishment – which is the hallmark of unjust justice systems around the world.
As to white-collar crime, what about the one type of white-collar crime that goes entirely unpunished? For an accounting fraud of $567 million, Enron’s executives went to jail, and its head guy died there. For an accounting fraud ten times that size, the two Democrat hacks who headed Fannie Mae and Freddie Mac, Franklin Raines and Jamie Gorelick, walked away with a combined taxpayer-funded payout of $116.4 million. Fannie and Freddie are two of the largest businesses in America, but they’re exempt from SEC disclosure rules and Sarbanes-Oxley “corporate governance” burdens, and so in 2008, unlike Enron, WorldCom or any of the other reviled private-sector bogeymen, they came close to taking down the entire global economy. Yes, yes, I know two wrongs don’t make a right (unless you’re Jamie Gorelick), but what then is the point of the SEC?
Judge St Eve’s decision is appalling. In my weekend column, I write about “nation-building” at home and abroad. Federal justice shares with those subjects what is the defining characteristic of US Government in the early 21st century – grotesque excess and an utter lack of proportion.