No such thing as white collar criminals
At least according to Terrance Corcoran, anyway. In Saturday's Post, he comes out swinging (as expected) to defend Ken Lay against what he calls 'George W. Bush's war on business'. Except his swings are pretty weak, because he doesn't have any real arguments to make in Lay's defence. (The WSJ had a few, if anyone's interested.) He instead rails about past investigations and trots out his standard grievance list about government photo-ops, destruction of shareholder wealth, and the trivial nature of the charges that manage to stick.
Corcoran's main objection seems to be that these investigations and charges provide fodder for the anti-capitalist forces that want to strangle businesses in red tape. There may be something to that, but letting wrongdoers off the hook is surely not the best way to combat them. Business leaders are put in a position of trust, expected to look after other peoples assets and report accurately on how those assets are performing. If they fall to the human temptation of using those assets for their own gain, or use deception to hide mistakes they've made, they should be punished as a message to others on the importance of proper business ethics.
If he is as big a supporter of capitalism and markets as he seems to be, he should welcome the public corrections of wrongdoing and not ridicule them. Defending to the last the men of privilege who have broken the trust given them gives more leverage to the socialists he fears than creating false martyrs out of them.