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The Sarbanes-Oxley Act of 2002 encouraged the Securities and Exchange Commission to fine corporate executives if they certified financial results that turned out to be bogus. The record suggests a bark decidedly worse than its bite. The SEC has filed cases against 31 executives at only 20 companies so far and recovered a total of $12.2 million from nine former executives to date.

The midterm elections are days away, but the winners are virtually certain: the corporations and conservative operatives like Karl Rove who have taken advantage of the Supreme Court's Citizens United ruling to establish a well-heeled "shadow party" of networked trade associations and G.O.P. front groups.

Originally posted on June 1 on The Huffington Post.

The bracing reality that America has two sets of rules -- one for the
corporate class and another for the middle class -- has never been more
indisputable.

One question has vexed the Obama administration and Congress since the start of the financial crisis: how to prevent big bank bailouts. In the last year and a half, the largest financial institutions have only grown bigger, mainly as a result of government-brokered mergers. They now enjoy borrowing at significantly lower rates than their smaller competitors, a result of the bond markets' implicit assumption that the giant banks are "too big to fail."

The Supreme Court's 5 to 4 decision in Citizens United v FEC rolled back long-standing restrictions on corporate campaign finance donations. At the crux of the decision was a determination that corporations have a right to free speech. The court ruled that limiting the amount that companies can spend promoting their favored candidates is tantamount to denying First Amendment rights.

Originally posted on January 15 at Dirt Diggers Digest.

Originally posted on 9 September at http://www.commondreams.org/view/2009/09/09-11

Can things get still worse in Washington?

Yes, they can. And
they will, if the Supreme Court decides for corporations and against
real human beings and their democracy in a case the Court will be
hearing today, Citizens United v. Federal Election Commission.

The question at the heart of one of the biggest Supreme Court cases this year is simple: What constitutional rights should corporations have? The legal doctrine underlying this debate is known as "corporate personhood."

Many hedge funds were relieved when the Obama administration's financial-overhaul plan included no big surprises to the lucrative, secretive industry. In 2008, major hedge funds and their trade groups spent $6.1 million lobbying Washington, up from $4.2 million in 2007 and nearly seven times the $897,000 average from 2003 to 2006.

The Justice Department has appointed at least 30 former prosecutors and other government officials as well-paid corporate monitors in arrangements that allow companies to avoid criminal prosecution, according to government data released Thursday by Congress.