] "In an April 3, 1999, interview with The Economist,
] legendary investment guru Warren Buffet worried that
] politicians are waking up to the true monetary worth with
] which they are imbued by Washington’s influence over the
] economy. He foresaw that business people would be forced
] to devote increasing time and resources to dealing with
] the government, and, further, that this would create
] pressures toward plutocracy. The richest companies would
] buy the most political favors, which would produce more
] wealth, and so on, in a vicious cycle."

Some interesting thoughts on corporate political action.

Prisoners of K Street

"NEW YORK - Think formal education helps in business? Think again. Chief executives who went to graduate school don't seem to make any more money for their shareholders than those with no advanced degree. MBAs may actually do worse than those with no advanced degree, although they fare better than lawyers. "

Forbes.com: Keep Your CEO Out Of Grad School

The slew of companies caught red-handed in this year of corporate sleaze face potentially colossal legal claims, but they may enjoy pleasant reprieves next year — huge tax breaks from Uncle Sam.
...
The IRS’s conclusion: “The amounts paid by Taxpayer pursuant to the settlement are currently deductible.”
...
“People are going to be upset when they hear companies can deduct these expenses,”

Hrm, I'm not. Corporations are not people. Corporations do not pay taxes on expenses. The reason for this is that eliminating specific deductions would allow the government to incent corporations to operate a certain way, thus leading to effective centralized economic control. This is a fundamental feature of capitalism. If the agencies that are levying fines don't think that the fines are punitive enough on their own, they should RAISE the fines rather then setting a precident that will lead to central control of the economy.

Firms accused of chicanery could get IRS tax break

"A lot of businesses are going to slow," said Morgan Stanley economist Bill Sullivan. "There's going to be lost sales, lost revenues, lost activity."

An economic pause for 9/11? - Aug. 26, 2002

"Bankrupt telephone company WorldCom has discovered about $2 billion in additional accounting discrepancies, CNBC reported Thursday, citing sources familiar with the matter. "

Oh, by the way....

WorldCom finds $2 billion more in errors - Tech News - CNET.com

... Cartel leaders have sent members of their own families to top US schools. The talent and tools are among the best that money can buy.

I've discussed this issue before, and here is a recent article that explains why keeping certain research results out of _Science_ and _Nature_ is not a very effective defense strategy.

If the cartels can spend billions on IT, they can surely do a little biotech on the side. They can use the results to improve their products, and they can also license the technology to others who may lack the necessary research infrastructure.

Business 2.0 - Magazine Article - Printable Version - The Technology Secrets of Cocaine Inc.