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Other People's Money, Other People's Lives

This phrase, other people's money, is resonating with me. As you know, much of this blog is dedicated to exploring various aspects of societal responsibilty, including fiscal. I'm also a legal critic believing that much of the current problem we face goes to the lack of responsibility in the bar, to, you guessed it, other people's money.

Kent Kammerer, convenor (sp?) of Seattle's most diverse (best) civic forum had a recent piece on Crosscut regarding money and leadership in the City of Seattle which brought this all together for me.

I used the term in my comment on this piece - and coincidentally, heard it on the radio just that same day by the author of a book by the same title, Nomi Prins, published in 2004. Though Ms. Prins rose to the top at Goldman Sachs she is not a fan of Wall Street's excesses and her tales remain relevant.

But why am I blaming the legal profession for the sins of the financiers?

Certainly, the Washington Bar does a good job at insuring financial accountability towards individuals who engage the services of their members. But, most tellingly there are no such protections for corporate monies, so long as corporate management (not shareholders) goes along. Personally, I think this practice stems from the arrogant attitude towards 'shareholders' money seen in public organizations, including the ongoing Port of Seattle scandal.

Lawyers, the profession of responsibility, exempt themselves from accountability in organizations, not just fiscally, but also of the Constitutional rights of retail customers and employees.

That is not acceptable and America will not change until they all go to the same hell on earth we are building for Bernie Madoff and his ilk.

It is quite clear that the law considers all public and corporate assets 'theirs'. The way that they insure this is by manipulating labor pools for these organizations. You may well think that you 'own' the intellectual property rights of your college degree and work history, but you do not.

You may think your lawyer is working for you, but, in many, many cases, it is exactly the opposite (given though that you could do worse.)


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