About this series:
Laura Flanders talks to creative thinkers and change-makers from the worlds of politics, arts and the new economy. The smartest conversations, with the smartest thinkers and doers of our time, distributed in multiple formats on a variety of platforms. Keep abreast of fresh content by following GRITtv, the site Flanders founded, on Twitter @GRITtv.
Bernie Madoff has come and gone but the architects of Wall Street?s financial crimes are mostly alive and well, and above the law it seems. A year o...
Bernie Madoff has come and gone but the architects of Wall Street?s financial crimes are mostly alive and well, and above the law it seems. A year on, the question still lingers: why aren't more of those who lied -- about their assets, their intentions and their cash -- in jail? From Enron to Goldman Sachs we've learned one thing over the last few months: white-collar crimes often go unpunished. But not always. Last Friday news broke that the owner of the Chicago firm, Republic Windows and Doors had been charged with defrauding creditors and stealing company assets. The sudden plant closing of Republic last year was all part of a months long plot to loot the business and set up a new operation out of state. Republic's bosses told its workers they simply didn't have enough cash for severance or back pay when they shuttered the place a few weeks before Christmas. In fact, they were setting up a non union shop out of state. But workers, as you know, fought back. What you may not know is they also made legal prosecution possible, not only drawing national attention to their cause by occupying the plant but also keeping documents and equipment safe. Prosecutors now credit the workers with recovering the documents that made the state's case. So it was with a certain sense of satisfaction that workers watched former CEO Richard Gillman as he was taken to Cook county jail Friday -- in a pin-striped suit and slapped with a $10 million bail. On hearing the news, Melvin Maclin, who?s been on this show said, ?I think God is good.? The irony is that the plant Gillman set up in Iowa, which employed more than 100 people, has also folded leaving many jobless. The town?s mayor Ted Schoonover said, ?It was pretty devastating ..." Devastating. Bitter sweet. Tragic. Call it what you like but one thing you can't call it is unique. American policy makers used to describe Russian capitalism of the 1990s as ?wild.? And it was. But the idea that American capitalism is somehow tame or governed by the rule of law is a myth. To shatter that myth we need to put more men like Gillman behind bars. To do that it looks as if law enforcers need workers who are willing - in all the right ways - to take the law into their own hands.
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