Saturday, March 15, 2008


Prosecutorial and business misconduct
Jeff Skilling has already spend jail time for lying to Enron shareholders. Now it seems he might be there in part because of government misconduct, as discussed in my last post. Which raises the question: what should be the penalty for the sort of prosecutorial misconduct indicated by the Skilling brief?

My sources tell me that the prosecutors probably have immunity. The argument for strong government immunity is that government agents, who don't reap economic gains from their conduct, will be excessively risk averse. But what if there are great potential political and economic rewards from successful white collar crime prosecutions? ...