Enron was founded in
1985. By April 17, 2001 their fraud
became public knowledge. We have since
become aware that dozens, if not hundreds, of Enron associates were aware of
the company’s nefarious activities but remained silent. Their intent was to squeeze every last penny
they could out of that corrupt company for their own wealth, comfort and
enjoyment.
Deregulation began under the Carter administration. It was vigorously continued under the Reagan, George Hubert Walker Bush and the Clinton administrations. The removal of many of these restrictions and safeguards dealt with the banking industry. This banking deregulation hit it’s crescendo in 1999 with the repeal of “Glass Stegall.”
“Glass Stegall,” was enacted in 1933, shortly after the “Great Depression” in 1929. Its purpose was to restrict commercial banks from engaging in highly speculative investment practices. When President Clinton stripped us of “Glass Stegall” and its 66-year protections, commercial banks could then speculate if far riskier investments for greater profits.
These newly fashioned investment giants devised derivatives and created the housing bubble. This resulted in the country’s worst economic downturn since that great depression in 1929. The repeal of “Glass Stegall” proved to be the lynchpin for the financial crisis of 2007 - 2008.
As in the case of Enron, we learned that hundreds of Wall Street wizards knew of these swindles and again remained silent. Like Enron, none of those silently duplicitous were ever held accountable.
In November 2011 we became aware of the Penn State sexual abuse practices. We learned that the abuse had been ongoing for 15 years and involved some 52 students. Once again, we come face-to-face with the same old disgusting reality. Any activity this widespread had to be known by others who, once again, remained silent.
Since September 2016 we have known about the sexual abuse that took place within the Olympics and at Michigan State University. USA Gymnastics National Team Doctor and a Michigan State University osteopathic physician who treated female athletes from 1986 to 2016 has been accused of molesting 150 young women. Currently the University faces lawsuits from 144 female athletes. No criminal reprisals are currently expected for Michigan State or those who had to be aware of this debauchery.
Once again, we have someone who was able to avoid detection; this time for 30 years. Now we are told, once again, that no one knew anything about it? Yet, the most recent developments at Penn State tend to suggest otherwise.
Even in the face of limited undying alumni and board of trustees backing for Joe Paterno and the school, new information continues to strongly support that the school's administration had knowledge of the revolting campus conduct far in advance of 2011. Meanwhile, the financial fallout for the school is now close to a quarter billion dollars. Lawsuits run rampant, including Penn State suing their insurance company for not covering more of the school’s nefarious and cruel activities.
It was scoffed at years ago when the suggestion – NO; make that the demand – that Penn State university be shut down. That same scribe is about to do it again in suggesting – NO; demanding - that Michigan State University be denied its accreditation and all of its public funding cut off. Based upon what we are continuing to learn about Penn State, we would be wise to heed Michigan State trustee Joel Fergusons’ assessment; “There’s so many more things going on at the university (Michigan State) than just this Nassar thing.”
A teacher at a local college once suggested that administration changes in admission policy was not just unethical but boarding on immoral. His colleagues became furious with him demanding he keep his mouth shut as the school’s profitability was their livelihood. He didn’t and he was fired. That school has since closed its doors.
Then, OF COURSE, there’s the Catholic Church
A popular axiom is that “Evil flourishes where good men do nothing.” Ample evidence suggests a flaw in that wisdom. For evil flourishes where the knowledgeable (not the good) remain silent. Enablers cause as much pain and suffering as the perpetrators. It’s time to hold them accountable.
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