But the corporate context also had an effect.
This can be especially true in a corporate context, where obedience and loyalty are prized.
In the corporate context, this distinguishes the debt from subordinated debt, which ranks lower in payment.
In the corporate context you solve this problem by filing for bankruptcy and imposing majority rule.
In a corporate context I'm sure there'll be compliance professionals shuddering in their chairs at the thought of the data protection issues.
Peter Reilly believes that Congress should act to limit or ban DPAs from the corporate context, but the possibility of that, with Republicans taking over the Senate, is remote.
The approach has been described in Germany as an "unfriendly bid," as the German word for hostile, feindlich, is seen as inappropriate in a corporate context.
The pivotal event in the rise of deferred and nonprosecution agreements in the corporate context was the demise of accounting firm Arthur Andersen, whose conviction for obstruction of justice in 2002 was later reversed by the Supreme Court.
"This was, as I made very clear, merely one more example of how absolutely remarkable this whole thing had become," he added, "that now it was like the Pac-Man defense in the corporate context: Investigators were investigating investigators, and indeed you are now one more little Pac-Man participating in this fishing expedition".
In his second book, "Snakes in Suits: When Psychopaths Go to Work," written with Paul Babiack, Hare flirts with pop psychology when he points out that many traits that may be desirable in a corporate context, such as ruthlessness, lack of social conscience, and single-minded devotion to success, would be considered psychopathic outside of it.
