MAKE ‘EM SWEAT….The Washington Post reports that Barack Obama’s upcoming inauguration has struck terror into the hearts of corporate wrongdoers:
The Justice Department has reached more than a dozen business-related settlements since the presidential election, with more in the pipeline for January, prompting lawyers and interest groups to assert that companies are seeking more favorable terms before the new administration arrives.
….A review of 15 agreements involving corporations since early November suggests that much of the alleged misconduct dates back five years or more, provoking questions about why the cases took so long to mature and why resolutions are coming with only weeks left in President Bush’s term.
“What they obviously are trying to do is take advantage of an administration that’s deemed to be more friendly to business,” said Cono R. Namorato, a Washington defense lawyer who ran the Internal Revenue Service’s office of professional responsibility earlier in the Bush administration. “I know of no tax reason for doing it now.”
This is good news. It means that real corporations, with real money at stake, think that Obama’s unity talk isn’t worth banking on. When push comes to shove, they really do think he’s going to drive a harder bargain than the Bush administration when it comes to dealing with charges of corruption, pollution, and overcharging.