He should have taken the fifth. Or maybe not. Maybe it doesn’t matter.
From Vox Day:
“I have been saying for years that there is no law in the USA, merely the pretense of law. Now the absence of justice in the so-called justice system is becoming readily apparent to everyone who is paying even casual attention:
Sarbanes-Oxley requires [John Corzine] as the CEO of a company to (1) guarantee that effective risk controls and rules are in place and (2) monitor their compliance. It renders failure to do so — that is, the old-fashioned “I didn’t know” defense that was routinely used after 2000-era failures in the Internet space — a felony.
Now of course Mr. Corzine is entitled to the presumption of innocence and he is entitled to a trial before being pronounced guilty, but the law on this point is clear: Executives, the CEO and CFO in particular, are required under Sarbanes-Oxley to factually know about matters such as this and they are required to attest to that knowledge — and the presence of appropriate and sufficient risk controls under penalty of felony indictment.
It appears that Mr. Corzine has admitted in front of a Congressional Committee that he does not know, and therefore this appears to be a prima-facie admission that he is in direct violation of this law.
If this is not dealt with on an expeditious fashion and the law is not enforced you have just seen proof on national television that there is no longer a rule of law in this nation of any substance.
The incredible thing is that the federal government is prosecuting and jailing hundreds of thousands of people for all sorts of drug “crimes”, but has no interest whatsoever in even arresting a man who admitted to stealing somewhere between $600 million and $1.2 billion dollars.
The USA may not be the most corrupt nation on Earth, but it is certainly among the most structurally corrupted. This is actually a more insidious form of corruption, because the law itself stands in open violation of Natural Law. We rightly condemn National Socialist Germany and Soviet Russia because their governments legalized murder, and while events haven’t yet reached that level of extremis, it should now be clear that the USA has legalized fraud and theft.”
The very cute anchor lady at RT, who is very smart, a breath of fresh air, but obviously doesn’t have the benefit of a legal education, is incredulous that Corzine wasn’t hauled away in handcuffs:
But the USA has legalized fraud and theft only for the chosen few, because whereas former United States Senator and consummate one percenter John Corzine doesn’t even need the fifth amendment inasmuch as he has nothing to fear, others are not so fortunate.
As if on cue, Scott Greenfield relates an anecdote where another individual, who has already been made a criminal defendant for some drug crime or other, isn’t even allowed to invokehis supposed fifth amendment rights, or sixth amendment right to counsel either.
The common element to the two stories is that the fifth amendment doesn’t matter, that the “law” is applied, or not, or then again applied, depending on nothing more than whim. And the whim usually has to do with the status of who we are talking about. The strictures of the law are imposed harshly upon those at the bottom; but those at the top are subject to no strictures at all.
Corzine’s congressional testimony should have been what is sometimes called a perjury trap: if it was truthful, he was guilty of one felony; if it was untruthful, he was of course guilty of perjury.
Where the hell was his lawyer? Oh, I forgot. He doesn’t need the sixth amendment either.