On Saturday the UT had a front page story about attorney Bill Lerach and the influence he wielded within the Democratic Party. Lerach "who plead guilty to conspiracy in a scheme to pay kickback to recruit plaintiffs for 150 class-action lawsuits against U.S. Companies." Has agreed to forfeit over $7 million in unlawful gains, pay a $250,000 fine and will accept a prison sentence of up to two years.[Link]
The obvious focus of the story was on how Lerach, who was a large contributor to the Democratic Party had tremendous influence among elected Democratic officials like Bill Clinton and Gray Davis. Such much influence in fact,that it force the high-technology industry of Silicon Valley to become political players themselves.[Link]
In typical UT fashion, they only tell half the story regarding Lerach. During his career as a lawyer, Lerach was the consummate champion on behalf of the shareholder against corporate malfeasance. He represented both public and private pension funds in numerous cases surrounding corporate securities fraud. For this he won for his clients billions of dollars in awards and settlements, from such model corporate citizens as; Enron, WorldCom and AOL/Time Warner.
In the end, Bill Lerach will pay his penalties and end up doing time in prison for his wrongdoing he committed. Something that Ken Lay never did.