Home -> Law Blog Directory -> Criminal Law Blogs -> Crime & Federalism

Criminal Law

: Crime & Federalism

The Myth of Corporate Speech

When Citizens United v. Federal Election Commission (holding that corporations have the right to make campaign contributions) was announced, libertarians went "Wheeeeeeeeee!  Corporations have free speech rights, too!"  As with with most sentiments underlying modern-day libertarianism, the rejoicing was childish.  The latest Goldman Sachs fraud case demonstrates why. John Paulson & Company paid Goldman Sachs $15 million to fool some investor's to take a sucker's bet.  Paulson created a pile of subprime mortgages that were guaranteed to default.  He then told Goldman, "Tell your clients that I am going to invest in these securities, and need additional investors."  Instead of investing in the securities, Paulson shorted them.   Now, back to Citizens United:In 2005, 2007 and 2008, John Paulson & Company spent between $30,000 and $90,000 each year on federal lobbying...continue to full post

Full post as published by Crime & Federalism on April 18, 2010 (boomark / email).