The Thick of It

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Friday, July 13, 2007

Conrad Black guilty of fraud


I was pleased to read that Conrad Black, made Lord Black at the request of WIlliam Hague, has been found guilty of fraud. He is looking at 15-20 years inside for plundering $6m from Hollinger's funds, including the pension fund. Sometimes I feel that the USA for all its unbounded corporatism gets it right where the UK seems toothless. Shame he couldn't quite manage to take the Daily Telegraph down with him...Chicago remains my favourite US city. This case shows that sometimes, if you really are very guilty, it doesn't matter how much you spend on the best lawyers.

You can't polish a turd.

I wonder how William Rees-Mogg of The Times now feels after he wrote of his support for fraudster Black a few months ago? Rees-Mogg talked of the lavish parties, which were at the expense of Hollinger which Black did not own, and not of the charges against him. He said "risk-taking entrepreneurs are essential to the development of the economy." I suppose Robert Maxwell was a "risk taker" as were those in charge of Enron.

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