Mr. Banov [Free enterprise alive in Iceland, Oct. 23 Letters, TIMES] should be aware that I did not criticize free enterprise [Iceland jailed CEOs, saved economy, Oct. 18 Letters, TIMES], although he is quite right that Prime Minister Geir Haarde, after being convicted on one count of negligence, of six separate charges, will not likely do the two years in Club Fed that the charge comes with.
But what do you expect? The first thing these sleaze bags do upon being elected is produce legislation giving themselves a free get-out-of-jail card, just in case they get caught.
At the very least, Icelanders tried, and that was the whole point. Public officials should not be able to put themselves above the law, and just because Geir Haarde will not be going to jail does not mean he should not be doing time for his negligence that literally destroyed his country’s economy and financially ruined many Icelandic families and lives.
Mr. Banov appear to be one of the few people content that certain individuals or corporations can play fast and loose with life savings, pensions, and families homes, and literally steal billions of dollars, above and beyond the reach of the law, because it is just business, nothing personal.
Even Adam Smith would say, after all, that a free market is not representative of a system where the working class pays for the mistakes of the ruling class, but instead one where the mistakes you make while participating in commerce are the ones you have to live with.
I, on the other hand, think the crooks and con men that masquerade as politicians and corporate CEOs should pay dearly for their crimes and breaches of trust.
I bet that, if Adam Smith were to see what passes for free enterprise capitalism over the past decade or two, he would roll over in his grave.
Jail or not, the next political leader or bank CEO who thinks to pull something like this will certainly think about it long and hard, especially if their free get-out-of-jail cards are revoked.
Wayne Clark, Maple Ridge