American Anti-Capitalist Exceptionalism
This story in the Houston Chronicle, “Law Makes It Easier to Blow Whistle on Corporate Crime,” written by Philip Hilder, the lawyer for Enron “whistleblower” Sherron Watkins, explains (though not in so many words) how the new “whistleblower” provisions of Dodd-Frank will turn corporate employees into spies and bounty hunters. One effect, he notes, is that employees will no longer report employee misbehavior to higher-ups but will immediately try to criminalize misbehavior in order to secure some big bucks. “The law's impact could be significant as companies may lose the opportunity to self-correct before a government investigation is launched. It is foreseeable that such an investigation could trigger shareholder or derivative lawsuits against the company. It is equally foreseeable that employees in Watkins' situation will now bypass company protocol and proceed to grab for the golden ring.”

Oct 18, 2010
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