Bad boys, bad boys
The story of Mr. Katz is not really about some rogue real estate player. Many an amateur real estate developer has gone bust. That is not why he is on the lam. The essence of capitalism is that failure in a business enterprise is not criminal. He is charged with wire fraud to begin with. But even being a fugitive to the American justice system is also not really the rub of it for me. Plenty of alleged criminals out there, few ever mentioned here. What gets me is that folks forget that much of Mr. Katz's expanding portfolio was actively supported by a wide cast of characters in town and nontrivial public incentives. He acquired much of it with an aggressive legal strategy that was not inhibited by any public entity, in fact quite the opposite. Such was the state of reactionary planning that anyone appearing to be willing to invest was supported with less of a qualification check than we require of many a worker for the lowliest of public sector jobs. Would it be libelous to suggest some of that support came as a result of sizable donations made to selected pols?
Look up the definition of enabling.
Still, the recent news is progress, but consider how long it has taken. Katz has been in Brazil for how many years? And the real estate he once owned is still tied up in legal pain.That gets to the enduring story still impacting communities across the board.