What the Hell Was Rajat Gupta Thinking?

By James G. Wiles

A respected leader of American capitalism just scored an own goal. It couldn't come at a worse time. Conservatives know that one of the challenges we face is that every now and then, something happens which makes the left's narrative of American capitalism -- easily reducible to a sound bite on MSNBC -- look like it's right. Whenever that happens, America's job-creators and investors lose -- big time. It happened after the S&L bust. It happened after Enron and WorldCom. It happened after the Crash of '08 -- and the exposure of what was going on during the Bubble in headliner books by Michael Lewis, Matt Taibbi, and Gretchen Morgenstern, among others. Each time, there was a new wave of federal laws and regulation. It just happened again. At The Nation, they must be high-fiving because the left now has its Exhibit "A." Wednesday, American business titan Rajat K. Gupta was named in a six-count federal indictment, charging him with one count of conspiracy and five counts of securities fraud..... (Read Full Article)