Sunday, December 11, 2011

Our Imperial Congress

Another reason to have contempt for Congress; it exempts itself from many of the laws it imposes on the rest of us.
The chief executives of public companies must certify their accounts, and face fines of up to $5 million and as many as 20 years in prison if they do so falsely. Members of Congress (like all federal officials) can make up numbers out of whole cloth without any sanction at all. Incorrect corporate numbers can mislead markets. Incorrect federal budget numbers can mislead the nation. (Perhaps the federal budget, like corporate balance sheets, should be vetted by independent third-party auditors.)
That'll be the day.

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