In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review July 13, 2006 / 17 Tamuz, 5766

Hot in pursuit

By Bob Tyrrell

Printer Friendly Version
Email this article

http://www.JewishWorldReview.com | LONDON —; A couple of decades ago there appeared a new blossom in the moribund garden of liberalism called neoliberalism. Naturally with that ever-hopeful prefix, "neo," slapped onto it, the liberal faithful were aglow with anticipation of yet another glad and glorious morn. Happy days would be here again. We now know that those days never came. Neoliberalism was a bust mainly because there was not much new to it. Essentially it was the same old nanny state mentality motivated by envy and indignation.

One of the neoliberal's tenets was that white-collar criminals were getting off easy. That is to say white-collar criminals, for instance a corporate fraudster, were being treated much gentler than muggers, bank robbers and other violent criminals. It was a class thing or a racial thing. The neoliberal promised to end this injustice. Neoliberals were going to get tough with errant businessmen.

Well, the neoliberal blossom has wilted along with all the other varieties of liberalism. Its obsession with white collar criminals, however, has remained, much to the detriment of justice as a whole and of a vigorous entrepreneurship. To begin with, a white-collar criminal is profoundly different from a violent criminal. The first is a scoundrel. The second is a scoundrel and a menace to human life. Further, America has always been inhospitable to white-collar criminals and long before the rise of the neoliberal we have been locking them up. Two reasons that America has been a vibrant place to do business is America's rule of law and its relative freedom from corruption. Yet now America is losing its position as one of the most favorable countries in the world to do business. The reason is the government's obsession with white-collar crime as manifest by such inhibitors of business as the Sarbanes-Oxley Act.

The law was passed by congress as a typical overreaction to the white-collar criminals of the 1990s, most of whom were prosecuted and jugged without resort to Sarbanes-Oxley. It has always been illegal to defraud. What Sarbanes-Oxley has achieved is the stifling of honest business dealings. It has placed redundant accounting regulations on business and nearly criminalized serving on the board of directors, whether the board be that of a giant corporation or a local publicly traded plumbing company. The cost of Sarbanes-Oxley has driven IPOs abroad and persuaded entrepreneurs to forego IPOs entirely, denying them access to public capital, to growth and to job creation.

Consequently the business climate in the United States has turned sour. The business climate in places like London is less risky, and IPOs that might have been issued here are now issued in London. The London Stock Exchange markets itself as "A Sarbanes-Oxley Free Zone." London is prospering, a businessman told me the other day, because of North Sea oil and "Sarbanes-Oxley, which has encouraged Americans to take their IPOs here."

Unfortunately, Washington's campaign against white collar crime has not ingratiated us to our most loyal ally. Our Justice Department is now pursuing three British bankers who allegedly defrauded a British bank. The evidence against them in Britain is insufficient to prosecute them according to British law, and they are free here. But our Justice Department argues that they were part of the Enron scandal and is extraditing them to Texas — an instance of prosecutorial rapaciousness that has made headlines here for a week and created growing enmity against us. The reason for the enmity is that the Justice Department is extraditing the Brits by a 2003 extradition treaty that was reserved for terrorists and that Washington has not even signed.

As you read this the anger against Washington grows in London. The three British bankers face as much as two years in a Texas prison without bail before they go to trial because they fought extradition. Thus, even if they are eventually found innocent their lives are ruined. Tension is also growing as the British newspapers are calling on the government to take last-minute measures against flying the men to Texas. Now comes word that another British banker who was questioned by the FBI about his three indicted colleagues has committed suicide. The bad feeling against us is bound to grow.

The bad feeling comes from the left, for instance, the Guardian. And it comes from the right, from America's friends at the Telegraph newspapers and the British Spectator. Washington's obsession against white collar crime has at least been a unifying force in British politics. They are all mad at us.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

JWR contributor Bob Tyrrell is editor in chief of The American Spectator. Comment by clicking here.


© 2006, Creators Syndicate