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November 21, 2003

Corporate Criminals in the Post

The Washington Post doesn't spend much time discussing white collar crime, but two articles of note appeared today. The first discusses fraudulent "non-profit" credit repair companies. The FTC and attorneys general have pursued these companies, but their prosecution raises some difficulties because it is hard to say sometimes what charties are legitimate and which are not. In one case discussed in the article, non-profit executives were paying themselves $600k. And you are subsidizing that salary!

The second story discusses my least favorite law firm, Sidley Austin Brown, which has been involved in some of the worst advocacy on behalf of rich people that screws poor people. Today's article discusses a former partner of the firm who was assisting really rich people evade taxes through sham shelters. In some cases, using consultants, companies pay no taxes at all. You end up paying their taxes.

Posted by chris at November 21, 2003 10:20 AM

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