Corporate crime in the US is alive& well

CORPORATE CRIME ALIVE AND WELL: White collar crime prosecutors will remain busy because "fraud in the workplace is alive and well in the post-Enron era." The Association of Certified Fraud Examiners calculated the U.S. lost $638 billion from fraud in 2005. (Up from $600 billion in 2002.) PricewaterhouseCoopers found that since 2003, worldwide fraud losses have increased 50 percent. Its 2005 Global Economic Crime Study found that "since 2003, the number of companies reporting cases of corruption and bribery rose 71 percent; those reporting cases of money laundering were up 133 percent and reports of financial misrepresentation were up 140 percent." The Wall Street Journal's reporting on widespread options backdating -- a ploy in which companies "repeatedly granted options to top executives on days when stocks were at or near their low points for a quarter or year" -- has sparked criminal investigations into several U.S. companies, including Affiliated Computer Services. (While none of this has been proven yet, the Journal calculated the chances that one of these companies, KLA-Tencor, could have timed their options dates so perfectly at "around one in 20 million.") Former Refco CEO Phillip Bennett, whose company went public last year, "was indicted in November on eight felony counts, including conspiracy to commit securities fraud and false filings to the SEC" after investigators found he had hidden $430 million in debt.

Peace and Love in the Quran

Peace and Love in the QuranA list of postings from Informed Comment on this subject.Quran 25:63.

Kingdom Coming: The Rise of Christian Nationalism"

Kingdom Coming: The Rise of Christian Nationalism"Across the United States, religious activists are organizing to establish an American theocracy. A frightening look inside the growing right-wing movement.Editor's note: This is an excerpt from senior writer Michelle Goldberg's new book, "Kingdom Coming: The Rise of Christian Nationalism. "By Michelle Goldberg
05/12/06 "Salon"

Oh How things haven't changed

Oh my, how things haven’t changed
William Bowles, I'n'I