The Business Regulatory Climate in the United States in 2005 changed from a referee type enforcement mission to an attitude that all business people were guilty of some sort of unethical behavior. More regulations were made in 2005 than any other year in the history of the United States. Regulators and Government Prosecutors like Elliot Spitzer went into attack mode by using the media to strike fears in consumers and citizens then used this to increase enforcement, expansion of his offices and go on fishing expeditions to search for fraud, by filing bogus lawsuits based on hear say and trying to compile a case. This is typical of the “prove you did not kick your dog” enforcement and assertions that you are guilty until proven innocent.
In 2005 we saw many junior just out of law school 26-year old government lawyers follow Elliot Spitzer’s lead breaking the law by filing half-truths in courts, coaxing witnesses in plea deals and then using public relations and the media to hide their tracks. We saw this type of aggressive attacks on the business community throughout 2005, as the government used extortion tactics and then media press releases to prove to the public that they were the heroes of civilization and cleaning up Corporate Corruption once and for all. Only one problem the only thing corrupt is the attack on Free Enterprise from government regulators purporting duty to country while breaking the law, compromising their family names and filing falsehoods in court. I predict that in 2006, we will see more of this.