Saturday, February 03, 2007

If Enron's CEO is in Prison...

I am endlessly fascinated by where people place their suspicions. When it comes to financial power, there are two places one can have great suspicion- with corporations, and with government.

I think a healthy dose of suspicion of each is healthy. Both have the ability to buy you out of your life as you know it. However, corporations cannot do so unless you consent... unless government helps bring force into the equation. Government is force. The most dangerous thing to be suspicious of is a government that is too cozy with corporations.

So, it was with interest that I read Rex Bell's latest blog entry. Rex recently ran for Indiana House in District 54 and had the best showing ever by a Libertarian Party candidate in Indiana in a three-way race for that level of office. From Rex's post:
From David Walker, U.S. Comptroller..."The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity's total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.

If this announcement related to a private company, the news would have been on the front page of major newspapers. Unfortunately, such was not the case -- even though the entity is the U.S. government."

And yet we continually look to the government to solve our problems. It's failed policies of artificial market supports, forced wealth distribution and strangling over-regulation will only continue to force businesses to close or relocate.

Too bad Rex wasn't elected. We need more common sense, no shell games kinds of people like him in our legislatures, in Indiana and in the Congress.

So, those who would rail on about the evils of thieving corporations, I challenge you: Be consistent. If you believe fraudulent accounting should be prosecuted, go the whole route. Also assail the governments that practice Enron-accounting with the tenacity with which you assail large corporations. Remember that there is a greater good to protect here. While Enron may have swindled its shareholders, governments swindle taxpayers who have their money withheld from them prior to receiving their paychecks.

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