Tuesday, March 27, 2007

From Budget Director to Criminal Defendant

Former Reagan budget director David Stockman is accused of inflating his company's accounts receivable as it approached bankruptcy, in an effort to make it appear more credit-worthy than it really was. Pretty run-of-the-mill stuff, as securities fraud goes. I have no position on the case, other than to be reminded of this ingenious episode from Berkeley Breathed's ingenious comic strip Bloom County:

Bobbi Harlow: Your biology project, I assume?
Milo Bloom: Yup. A twelve-foot python named David Stockman. Eats rabbits.
Bobbi Harlow: Bunnies?
Milo Bloom: Yes. I've named them after various social programs. I'm afraid it was little CETA's turn, yesterday.
Bobbi Harlow: Ugh! That's horrid!
Milo Bloom: Well, that's the point.

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