18 March 2009 - consenting cronies

As long as it takes place discreetly, behind closed doors, consenting cronies can get away with millions. Everybody does it, they just don’t talk about it.

The distraction lands some businesses in rocky breakups, but that’s nothing next to the jealousy of public opinion if the hanky-panky gets out. Look at AIG: One little affair, costing much less than 1% of the child support it was already stuck with, and suddenly the government is straining to break iron contract law with its bare hands. Lock the doors—if it does break, all the inmates may get out.