-Caveat Lector-

~~for educational purposes only~~
[Title 17 U.S.C. section 107]

Bad Theatre
by David Dieteman

In a Wall Street speech today (Tuesday, July 9)
President Bush called for more penalties for
"corporate criminals" and a crackdown on boardroom
scandals. The mighty conqueror of Afghanistan
(excepting Osama bin Laden) and cosmic injustice
has promised to "end the days of cooking the books,
shading the truth and breaking our laws."

Is the government going to abolish Social Security?
No.

As reported by the Washington Post,
(link: http://www.washingtonpost.com/wp-dyn/articles/A43384-2002Jul9.html)

    "Confronting a wave of corporate wrongdoing that
    has undermined investor confidence and threatened
    political damage to the White House, Bush said,
    'We will use the full weight of the law to expose
    and root out corruption.'"

Notice the key phrase in the above quotation:
_threatened political damage to the White House_.

Do not think for a minute that the White House cares
to do any more than cover its behind.

This bit of cheap Washington theatre would be
palatable if it were not so obscenely laughable.

Consider, for example, the oxymoron of "government
accounting." There is no such thing.

Perhaps you have heard of the Pentagon "budget."
Or Social Security.

Perhaps you have heard of the federal Bureau of
Indian Affairs. The bureau, custodian of millions
of dollars of tribal trust money, um, well --
_cannot account for the money_. The B.I.A. is unable
to account for millions, and possibly, billions of
dollars which are allegedly held in trust for the
poorest of the poor.

(In 1887, the Congress decided that it would
administer leases of Indian land, and mail checks
for the royalties to each Indian family. Right. Not
surprisingly, 115 years later, the government's
"accounting" system has been shown to be, well, a
bit deficient).

Oops. Time to shell out the tax dollars, to the
tune of $625,000 to cover the fine for contempt of
court, imposed by a federal judge when Clinton
appointee Bruce Babbit and the Bureau refused to
comply with a court order to turn over records. "The
most egregious case of government misconduct I've
ever seen," to paraphrase the judge.

And let us not forget to mention the millions spent
by the government on legal fees.

Despite the utter joke of the Bureau of Indian
Affairs, of Social Security, and of the Pentagon
budget, the Emperor Bush rattles his sabre about
"corporate criminals."

Puh-lease. At least in the corporate world, fraud is
the exception. The profit motive provides a natural
disincentive against fraudulent accounting.
Corporations go out of business when they mismanage
money.

Not like the government.

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