Fifth Amendment capitalist
- Fifth Amendment capitalist
(fifth uh.MEND.munt KAP.uh.tuh.list)
n.
An American executive who invokes the Fifth Amendment of the U.S. Constitution to avoid giving testimony regarding possible wrongdoing at his or her company.
Example Citation:
We haven't reached the stage yet where the alleged Enron culprits are being called "Fifth Amendment capitalists," but it's probably fair to suggest that those who have used and will be using the legal protection will likewise be assumed to be guilty in doing so.
— Jules Witcover, "Enron's suits bring 'Fifth' back in vogue," The Baltimore Sun, February 13, 2002
Earliest Citation:
Senator Joseph McCarthy invented the term 'Fifth Amendment Communists.' Soon, we may have a new class: Fifth Amendment Capitalists.
— Noah Adams, "Enron story likely to get a lot bigger before it goes away," National Public Radio, February 4, 2002
Notes:
The U.S. Constitution's Fifth Amendment is usually invoked by a person who does not want to testify before a court of law or other body because the testimony would somehow incriminate that person. Here's what "the Fifth" (as it's often called) has to say (italics mine):
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
As the earliest citation mentions, this phrase is a play on the term Fifth Amendment Communist that was popular when Joseph McCarthy was hunting communist witches in the 1950s/
Related Words:
Categories:
New words.
2013.
Look at other dictionaries:
jury nullification — (JOOR.ee nul.uh.fuh.KAY.shun) n. The act of a jury finding a person not guilty because they believe the law under which the defendant was charged is unfair, misguided, or not applicable. jury nullifier n. Example Citation: A measure on the South… … New words
crony capitalism — n. A capitalist economy in which business contracts and appointments are awarded to friends and family rather than by tender or merit. Example Citations: Most of these oft stated causes for the Asian currency crisis alleged corruption, crony… … New words
fiduciary capitalism — (fi.DOOSH.ee.ayr.ee kap.uh.tuh.liz.um, fi.DOO.shuh.ree) n. A capitalist model in which corporations are influenced and guided by shareholders, particularly large institutional shareholders such as pension funds and mutual funds – that act on… … New words
Corporate Culture — acoustic privacy adhocracy al desko BHAG bozo explosion BYOD corpocracy corporate anorexia … New words
Crime — 419 scam acoustic terrorism Adlai Stevenson moment aftercrimes age fraud Apple picking appraisal mill a … New words
People — 99er adultescent agritourist alpha earner alpha geek alpha girl alpha pup altruistic donor … New words
corporate perp walk — (KOHR.puh.rit perp wawk) n. A brief appearance by a recently arrested business executive for the benefit of media photographers, reporters, and other bystanders. Example Citation: Another week, another corporate perp walk. Two former WorldCom… … New words
dark swap — n. To trade unused capacity (such as bandwidth on a fiber optic cable) for the unused capacity owned by another company and then report the new capacity as an asset. Example Citation: Then Lerach threw out more sinister phrases dark swaps,… … New words
dirty-white-collar — (DUR.tee wyt kaw.lur) adj. Relating to a corrupt, seedy, or criminal businessperson. Example Citation: David Ebert, a Rancho Santa Fe water district executive, committed the same crime Longanbach did. He commandeered the services of underlings… … New words
ethics deficit — (ETH.iks DEF.uh.sit; TH as in thin) n. The amount by which a person s actions or principles fall short of some ethical standard or ideal. Example Citation: With four state energy officials facing stiff fines because they did not require… … New words
