"F. George McDuffee" wrote in message
...
On Tue, 9 Dec 2008 10:28:09 -0500, "Ed Huntress"
wrote:
snip
We are looking at the "evaporation" of about 11 billion dollars
[equity + new debt] from a company under Zell's control in less
than a year.

How gross does it have to get before its criminal?

Wait 'till you hear the news today. The governor of Illinois is in FBI
custody for corruption as of this morning, and part of it, apparently,
involved deals made with the Tribune Company.

The wicket is getting very sticky.
snip
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Indeed, and I fervently hope this is an isolated and exceptional
case rather than the new standard.

Blagojevich's predecessor is in jail right now.
LOL


Unfortunately, a presumption of rampant and extensive political
corruption and collusion with the "financial interests" resulting
in "short circuiting" of the regulatory and law enforcement
process fits the known facts all too well.

This leads directly into the question "are the current bail-out
efforts the result of an earnest desire on the part of the
politicians to help the US economy recover, are they the result
of bribes/kickbacks, or does the financial industry now have
adequate 'black-mail' material to force rescue funding?"

Re exchange with jcarroll on this point:

While stupidity and incompetence in corporate governance may not
[yet] be criminal offences, conspiracy/bribery to evade/avoid
regulations and subvert/obstruct law enforcement most definitely
are.

Sure.
Seen any of that?
GM is good at exactly two things. The first is advertising.
The second is the legal version of what you seek to punish - lobbying.

J