Wednesday, June 06, 2018

Will Victims of a Ponzi Scheme Now Pay for a Diversity Scheme? - WSJ

Will Victims of a Ponzi Scheme Now Pay for a Diversity Scheme? - WSJ
"A federal judge in Mississippi uses a fraud case as a vehicle for his social agenda.
On Friday in Mississippi, federal District Judge Carlton Reeves surprised government lawyers by ordering that the appointment of a receiver to recover assets for fraud victims should serve as a vehicle to promote diversity in the legal profession.
“It is indisputable that systematic oppression lies behind much of the judiciary’s lack of diversity,” wrote the Obama appointee in his order establishing a process to select a receiver to go after the money taken from investors.
...And while defrauded investors surely value the search for truth, they are also no doubt eager for a receiver to begin an immediate search for their money.
...The Clarion Ledger previously noted that among the victims was the state’s Republican U.S. Sen. Roger Wicker. The Clarion Ledger reported:
“My wife and I are victims of this apparent fraud,” Wicker said in a statement late Thursday. “Like many others who stand to lose money in this scheme, we are very surprised and disappointed. We are learning of this through news reports like everyone else. We are seeking answers as to how this happened and will continue to monitor this matter closely.”
...Whatever one thinks about government programs intended to increase diversity, is there an argument that the burden of advancing such efforts should fall on the victims of a Ponzi scheme—right at the moment they are trying to recover their stolen nest eggs?

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