Thursday, May 17, 2012

Updates related to Harvey's book Three Felonies a Day, a critical take on the Justice Department

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Justice 'Deferred'


In a recent front-page article in The New York Times, reporters Gretchen Morgensen and Louise Story argue that “Deferred Prosecution Agreements” represent a softer approach to corporate crime. What the Times misses, however, is the extent to which these arrangements, and their proclivity for punishing the innocent, sow terror within the rank and file of corporate employees and officers. The Deferred Agreements, I write in my latest Forbes.com column, represent a creative way for the federal government to extract a large fine from the company, manufacture convictions of individual officers and employees, enhance the reputations and conviction rates of federal prosecutors before they head to Wall Street law firms for high-paying partnerships--all while dispensing with the inconvenience of indictment or trial.
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